The Sixth Supplementary Agreement of CEPA Opens the Financial Service Sector to Hong Kong Again

by huiyun_moo on 2009-06-12 15:52:03

The "Supplementary Agreement Six to the <Arrangement between Mainland and Hong Kong for Establishing Closer Economic and Trade Relations>" was signed in Hong Kong on September 9th. The Mainland has agreed to introduce 29 market opening measures involving 20 service sectors. Among these are: Hong Kong banks' branches established in Guangdong Province can set up "out-of-town branches" within Guangdong Province; Hong Kong securities companies meeting specific conditions will be allowed to form joint-venture securities investment consulting companies with Mainland securities companies that meet the requirements for establishing subsidiaries in Guangdong Province, specifically engaging in securities investment consulting business, where the equity proportion of the Hong Kong securities company may reach up to one-third.