Mainland trade with Hong Kong expandedTOP
The mainland is poised to expand its free trade pact with Hong Kong in a bid to link the two economies more closely.
The mainland signed the first CEPA agreements with Hong Kong in 2003. Three supplements have been added to the basic agreement since then. Under CEPA, products originating from Hong Kong do not face tariffs when they enter the mainland, and Hong Kong-based companies are granted greater access to mainland markets.
CEPA stands for “Closer Economic Partnership Arrangement between Hong Kong and the Chinese mainland”
• It’s a free trade agreement under WTO rules
• Gives preferential access to mainland market for Hong Kong companies
• Exceeds China’s WTO entry commitments
• Is effective from January 1, 2004
A boost to your first-mover advantage in the mainland
According to a study released by the government of the Hong Kong Special Administrative Region, the CEPA has boosted Hong Kong's economy by increasing trade, creating jobs, attracting investment and unleashing tourism.
By the end of last month, more than 23,000 certificates of origin had been issued, involving HK$8.3 billion ($1.06 billion) worth of exports.
CEPA also helped create 36,000 new jobs in Hong Kong from 2004 to 2006, and the government forecasts another 3,600 jobs will be created this year.
Of the 2,600 enterprises taking part in the government study, 89 percent said the CEPA has benefited the economy, and 77 percent said the preferential trade arrangement was beneficial to the manufacturing sector.
CEPA brought HK$305 million worth of investment to the manufacturing industry in 2005 and 2006, and further HK$239 million is expected for this year.
The agreement allowed for the injection of HK$4.8 billion worth of investment into the services sector last year, representing a rise of 380 percent over 2004.
The number for this year is expected to be HK$2.4 billion.
How to Practice Business Etiquette in Hong KongTOP
Step One
Dress conservatively in dark, muted colors. Red is a color of good luck, so it may go far with associates in Hong Kong for men to wear a red tie.
Step Two
Be punctual. Plan for plenty of time to get to your destination, as the streets of Hong Kong can be extremely congested, and if you are late, apologize profusely. In the unlikely event that your associates are late, be gracious.
Step Three
Greet with a handshake and a slight bow. Business cards are important and should be exchanged upon meeting. Have your business card translated into Chinese on the reverse side, and present it Chinese side up. Treat your associates' business cards with interest and respect. Do not fold or write on them or put them in your pocket or wallet.
Step Four
Present a wrapped gift, such as an item from your country, or candy or liquor if visiting a home, to your host. Present your gift with both hands and a slight bow. If you receive a gift, thank the giver and set it aside. Do not open it in the presence of the giver.
Step Five
Be modest and patient in your presentation, and treat your Chinese associates with the utmost respect, especially when answering questions or explaining difficult concepts. Avoiding conflict of any sort or magnitude is essential, as harmony is of the highest importance. If your associates feel you have caused them to lose face, negotiations could be lost.
Step Six
Respect silence. Your associate may sit in contemplation for some time. Do not interrupt.
Step Seven
Be patient, as decisions are made slowly. Do not push.
Shenzhen-Hong Kong CooperationTOP
Shenzhen neighbors Hong Kong, with China's largest passenger land port----Luohu Port, the largest freight land port----Huanggang Port, as well as Wenjindu port and Shatoujiao port connected to Hong Kong.
Eggs, fish, meat, vegetables, dairy products and other daily necessities in Hong Kong are mainly provided by Shenzhen. Every year, the Shenzhen Reservoir channels a total of 1.1 billion cubic meters of water from the East River to Hong Kong. The Daya Bay Nuclear Power Plant, located in eastern Shenzhen, transmits electricity to Hong Kong.
The cooperation between the two sides had be extended from processing with imported materials from Hong Kong to other sector including trade, shipment, transport, logistics and tourism.
The two sides jointed developed industrial, research and education base and introduced four Hong Kong universities to opened business at Shenzhen Virtual University Park.
The complementarities in resources and functions play an important role in the city's construction plan. The city made a good realignment of the construction of the border, transport and infrastructures between the two cities and environmental protection, while promoting cooperation in resources and regional distribution and urban construction.
Of the overseas investment in Shenzhen, 70 percent is from Hong Kong. Hong Kong-funded enterprises in Shenzhen totaled 80 percent of the overseas firms in the city.
After the initiation of the Closer Economic Partnership Arrangements, Shenzhen set its position as a regional finance center. Shenzhen’s security and foreign currency markets provide a platform for Hong Kong international capital to enter into mainland’s market and inland enterprises to attract international capital.
In the past eight years since the return of sovereignty of Hong Kong to China, especially after the implementation of CEPA, the trade between the two sides has doubled with an average annual growth of 20 percent. The import and export volume of general trade has reached US$5.53 billion, increase by 12.3 percent. Processing business accounts 70 percent of the businesses of the two sides, and import and export of Shenzhen private enterprises to Hong Kong account 58.5 percent of the total Hi-tech products shared half of the total Shenzhen-Hong Kong trade volume, weighing at 42.5 percent.
The two sides extended fields of cooperation in 2004r. Under the cooperation framework, government of two sides established coordination system over key projects. Ports and cross-border cooperation had been strengthened and cooperation in trade, science, education, finance and tourism had been greatly enhanced.
Chinese Tea CultureTOP
Tea culture is an important part of Chinese traditional culture. With the social development and progress, tea not only has played a good role in driving the development in economy, but also has become a necessity in people’s lives. Moreover, it has gradually developed into resplendent tea culture and become a bright pearl of the spiritual civilization of the society.
The emergence of tea culture brings the spirit and wisdom of human beings to a higher ambit. Tea has an extremely close relationship with culture, covers a wide field and has very rich content. It not only has the embodiment of spiritual civilization, but also the extension of ideological form. No doubt it is beneficial in enhancing the cultural accomplishment and art appreciation level of people.
The “Easy to Import” service of China Import NetworkTOP
In 2007, China Import Network puts out the “Easy to Import” service for promoting products using the network. The “Easy to Import” service is a professional business solution to selling imported product in China. This service can really bring you actual clients. The service flow is including 1.Online and offline business operation 2. Get the potential clients 3. The customer info will be notified. You can establish your company image and promote your brand's value by the all-directional “Easy to Import” service.
The service and price of The “Easy to Import” service
1. Product tracking service worth RMB100 each product one year.
2. Establish online exhibit at the specified place at the website of China Import Network. (www.import.net.cn ). And one year’s Domain Service worth RMB 3500.
3. Text Advertisement at the specified place at the website of China Import Network.(www.import.net.cn ) for one month worth RMB500.
4. Interstitial Ad at one issue of the “Really Useful Links” newsletter worth RMB3000.
5. Publish an Ad at www.investcn.cn for one year worth RMB4000.
6. After-sale services of The “Easy to Import” service include consultation, product info maintenance and product adding.
The total amount of The “Easy to Import” service worth RMB11100.And now you only need to pay USD1000 for it and get all the service mentioned above.
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