The fifth phase of the Chinese mainland and Hong Kong Closer Economic
Partnership Arrangement (CEPA) will be signed on July 29, Hong Kong Special
Administrative Region (HKSAR Chief Executive Donald Tsang said yesterday.
; Speaking to reporters during his visit to northeast China's Liaoning
Province Friday, Tsang said the CEPA package will cover measures specially
devised for the implementation in Guangdong Province, according to a press
release from the Information Service Department of the HKSAR government.
Tsang led a business delegation consisting of more than 100 representatives
of Hong Kong business circle beginning last week to Heilongjiang, Liaoning and
Jilin provinces in northeast China to promote mutual investment and trade.
Praising their great potential and strengths in industry, agriculture and
tourism, Tsang said the provinces' strategic location also allows them to have
advantages in doing business with Russia, Japan, the Republic of Korea and the
Democratic People's Republic of Korea.
Noting Hong Kong's service trade is well-developed, he said there is ample
room for the provinces and the city to cooperate as senior officials of the
provinces have responded positively to Hong Kong's cooperation proposals.
In another development, Tsang said, when responding to the resignation of
Export Credit Insurance Corporation Commissioner Cheung Kam-kay following
allegations that he misused public money, the HKSAR government attaches great
importance to the incident and has transferred the case to law-enforcement
authorities for further investigation.
"I have also asked top officials to examine the relevant systems to see if
there is any need to introduce remedial measures," he added.