Cooperation |Market access for local service providers facilitated

Guangdong province will further facilitate market access for service providers from Hong Kong and Macau, China’s State Council announced on Tuesday.
Local authorities in Guangdong are required to make adjustments to regulations on administrative approval, in order to boost service trade liberalization for investors from Hong Kong and Macau, according to a decision released by the State Council.
Businesses owned by Hong Kong and Macau investors will no longer be treated as foreign companies, whose establishment or business conversion usually needed to undergo examination and approval procedures, the Council said.
According to the decision, Guangdong will further open the local services industry to investors from Hong Kong and Macau under the Closer Economic Partnership Arrangement (CEPA).
Further adjustments are required for rules that regulate the telecommunications industry, joint school operation, sea transportation, entertainment, video gaming and civil aviation. The mainland signed the CEPA with Hong Kong and Macau in 2003 to forge closer ties.

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