Macao service providers should be able to enjoy the same treatment as their Mainland Chinese counterparts in 58 service sectors in Guangdong Province next year, after the signing of a service trade liberalisation deal on Thursday.
The deal comes as part of the Mainland and Macao Closer Economic Partnership Arrangement (CEPA).
The liberalisation pact is to be implemented on March 1, 2015, the Macao Government said in a statement.
With the latest expansion, the Guangdong Province will now have opened up 153 sectors to the Macao service industry, the Government said. The implementation of the agreement reflects “the achievement of basic liberalisation of trade in services between Guangdong and Macao,” the statement added.
Vice Minister of the Chinese Ministry of Commerce, Gao Yan, and Macao’s Secretary for Economy and Finance, Tam Pak Yuen, signed the deal on Thursday.
“[We will] actively review this pilot experience in Guangdong… striving to achieve the goal of basic liberalisation of trade in services between the Mainland and Macao by the end of 2015,” said Ms Gao.
Macao businesses will face the same environment as their Mainland counterparts in Guangdong for services like advertising, food and beverage, hospitality, and events and conferences.
Some restrictions for Macao businesses will remain in other 95 sectors but the requirements will be “more lenient” following the signing of the latest deal.
