PRESS RELEASE
12 December 2019

Closer Economic Partnership Arrangement (CEPA) Liberalisation Measures Welcomed

CC
Clyde & Co

Contributor

Clyde & Co is a leading, sector-focused global law firm with 415 partners, 2200 legal professionals and 3800 staff in over 50 offices and associated offices on six continents. The firm specialises in the sectors that move, build and power our connected world and the insurance that underpins it, namely: transport, infrastructure, energy, trade & commodities and insurance. With a strong focus on developed and emerging markets, the firm is one of the fastest growing law firms in the world with ambitious plans for further growth.
Thursday, 12 December 2019: Global law firm Clyde & Co has welcomed upcoming amendments to the Closer Economic Partnership Arrangement
Hong Kong

Thursday, 12 December 2019: Global law firm Clyde & Co has welcomed upcoming amendments to the Closer Economic Partnership Arrangement (CEPA) between Mainland China and Hong Kong.

"The amendments include liberalising measures for key sectors including finance, insurance, legal services, tourism, construction and engineering," said corporate partner Kevin Martin.

Mr Martin said the new liberalisation measures are encouraging for the professional services industries in particular, and show that the government remains committed to greater economic cooperation, particularly in the greater bay area.

"The reforms will allow more Hong Kong professionals to obtain relevant qualifications on the Mainland, while also providing greater market access for Hong Kong businesses. It will make it easier for Hong Kong suppliers to set up business in Mainland China."

"For the insurance sector, requirements on the issuance of catastrophe bonds in the Hong Kong market will be relaxed. The amendments will assist in the development of the insurance and bond markets in Hong Kong, and would be welcomed by the sector overall," Mr Martin added.

The amendments to CEPA will be implemented on June 1, 2020.

ENDS.

Contributor

Clyde & Co is a leading, sector-focused global law firm with 415 partners, 2200 legal professionals and 3800 staff in over 50 offices and associated offices on six continents. The firm specialises in the sectors that move, build and power our connected world and the insurance that underpins it, namely: transport, infrastructure, energy, trade & commodities and insurance. With a strong focus on developed and emerging markets, the firm is one of the fastest growing law firms in the world with ambitious plans for further growth.

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