CRI听力:Mainland and Macau Closer Economic Partnership Arrangement Signed

The CEPA process got underway in 2003 with the signing of an initial agreement.

It came into full force a year later.

That agreement has been augmented by a series of supplements, further liberalising trade.

This latest chapter opens up another 153 service trade sectors in the Mainland to Macau by the begining of June next year.

Most notably, CEPA is making it easier for Macau's service providers to enter the mainland Chinese market by initiating a record management mechanism, cutting red tape and boosting the efficiency of administrative management.

Ministry of Commerce Deputy Minister Wang Shouwen explains.

"The 'blacklist' created by the Mainland would, to a certain extent, bring convenience to those service providers who are off the list, since they don't have to go through a tedious process of examination like before. The Mainland would put more effort into screening those service providers who are on the list."

Among recent supplements to the initial deal, perhaps the most important was the Guangdong Agreement, which allowed 62 service trade sectors from Macau the same access rights as mainland providers.

This has made Macau's market expansion in the Mainland easier, and at the same has diversified the nature of economic development.

Liang Weite, Secretary for the Economy and Finance of Macau, adds two further important points.

"There is no doubt this agreement is beneficial to enterprises from Macau. We will do more research on how Macau should take advantage of CEPA and expand its market in the Mainland. For one thing, I believe making sure the agreement can be implemented on time is of great significance. For the other, more promotion work should be done to ensure the service providers in Macau make full use of this opportunity."

The Macau Special Administrative Region (SAR) has been working to rid its economy of an over-dependence on gambling, and is seeking to develop the city in other ways.

For CRI, this is Li jianhua.