CEPA brings about south China logistics boom

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Last updated at: (Beijing Time) Sunday, March 07, 2004

CEPA brings about south China logistics boom

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The Closer Economic Partnership Arrangement (CEPA) between Hong Kong and the Chinese mainland has brought about more extensive logistical cooperation between south China's Guangdong Province and Hong Kong Special Administrative Region, says Chen Bin, director of Guangdong Economic and Trade Commission.

Chen told a logistics cooperation conference that CEPA had provided specific development orientations for the two regions.

Guangdong would make itself one of world key manufacturing centers while Hong Kong would become a service center relying mainly on logistics and finance, Chen said.

The boom in manufacturing and the improving logistics infrastructure of the Pearl River Delta economic zone would createa huge market for the Guangdong-HK logistics cooperation, he said.

Zheng Weizhi, a member of Hong Kong Trade Development Council (HKTDC), said Hong Kong had established an advanced international logistics network after many years of international operation.

The CEPA encouraged effective utilization of Guangdong and Hongkong's logistics resources, said Zheng, and the large number of HK specialized human resources in addition to its rich experience would help the development of domestic logistics.

The HKTDC predicts that logistics in Guangdong will increase by 11 percent annually and that the growth will amount to 270 billionyuan (32.6 billion US dollars) annually.

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