HK Economy - Highlight
13 July 2017
The signing of Investment Agreement and the Ecotech Agreement has turned CEPA into a full-fledged FTA, on the one hand providing greater clarity on protection of investment in services sectors, non-services and other classes of assets between Hong Kong and the mainland, and on the other, encouraging Hong Kong companies to participate in key national development strategies like the Belt and Road Initiative.
One major characteristic of the new generation of businesses is the blurring of industry boundaries. Start-ups generally do not produce or sell just one specific standard product, but rather offer a total solution backed by certain technologies and/or innovations. Such solutions can apply to numerous areas.
The government of the Hong Kong Special Autonomous Region and China’s Ministry of Commerce (MOFCOM) have recently signed a new Investment Agreement in line with the terms of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA). The new agreement comes into effect as 1 January 2018.