The Zhitong Finance App learned that Hong Kong's first five-year plan proposes to continue to fully upgrade the “Mainland and Hong Kong Closer Economic Partnership Arrangement” (CEPA). The Secretary for Commerce and Economics of Hong Kong, Mr Yau Ying-wah, said that CEPA will revise the third edition. Any foreign company that comes to Hong Kong to set up a company and then does business in the Mainland will also be applied to CEPA. It will be treated the same as a Hong Kong company. Products manufactured by foreign companies in Hong Kong can be exempted from tax if they meet the “Made in Hong Kong” requirements.
Regarding Hong Kong's progress in joining the Regional Comprehensive Economic Partnership Agreement (RCEP), Qiu Yinghua said on September 21 that when applying to join a new economy, it is necessary for the original member states to pass it in their respective national parliaments and then return to RCEP discussions. The process often takes several years. RCEP will set up a working group to review the application, and the Hong Kong government will actively express its intention to join the member states and make every effort to seek support from all parties.
According to the Hong Kong Commerce and Economics Bureau, the “First Protocol to Amend the Investment Agreement” between Hong Kong and ASEAN was signed yesterday, allowing Hong Kong enterprises to enjoy no less treatment than local or foreign companies in response to the situation in the ten ASEAN member countries. Philippine Minister of Trade and Industry Ma. Cristina A. Roque and Thailand's Deputy Prime Minister and Minister of Commerce Suphajee Suthumpun also signed the Protocol.
By the end of 2024, ASEAN was Hong Kong's third-largest outward direct investment destination, with an investment stock of HK$671.2 billion. ASEAN is also Hong Kong's sixth largest source of foreign direct investment, with an investment stock of HK$448.5 billion.