First zero tariff HK goods under CEPA shipped to mainland

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Last updated at: (Beijing Time) Wednesday, January 07, 2004

First zero tariff HK goods under CEPA shipped to mainland

Hong Kong company Wing Li Holdings Limited exported 235,212 HK dollars (30,155 US dollars) worth of CD Recordable with zero tariff to the Chinese mainland via Huanggang checkpoint Wednesday.

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Hong Kong company Wing Li Holdings Limited exported 235,212 HK dollars (30,155 US dollars) worth of CD Recordable with zero tariff to the Chinese mainland via Huanggang checkpoint Wednesday.

This is the first batch of made-in-Hong Kong goods with zero tariff to the mainland under the Mainland/Hong Kong Closer Economic Partnership Agreement (CEPA) which was effective from Jan.1.

The zero tariff arrangement saved Wing Li about 12,000 HK dollars (1,538 US dollars) from tariff.

Commenting on this historic shipment under CEPA, Chief Executive Officer of the Hong Kong General Chamber of Commerce Eden Woon said he expected more companies would follow suit to take advantage of CEPA.

CEPA, signed on June 29 by the Central Government and the Hong Kong Special Administrative Region government, covered areas of trade in goods, trade in services and trade and investment facilitation.

On trade in goods, as of Jan. 1, 2004, goods of Hong Kong origin under 273 tariff items will enjoy zero tariff treatment when coming into the mainland. Zero tariffs will apply to other goods of Hong Kong origin no later than Jan. 1, 2006.

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