Mainland China, Hong Kong, Macau free-trade plan still in motion: vice-minister
Beijing reiterated its pledge to create a “single free-trade zone” incorporating mainland China, Hong Kong and Macau on Wednesday, as it seeks to deepen economic ties with the two special administrative regions (SARs) amid ongoing trade tensions with the US. The Ministry of Commerce would “explore and promote” the establishment of a unified free-trade area…
Beijing reiterated its pledge to create a “single free-trade zone” incorporating mainland China, Hong Kong and Macau on Wednesday, as it seeks to deepen economic ties with the two special administrative regions (SARs) amid ongoing trade tensions with the US.
The Ministry of Commerce would “explore and promote” the establishment of a unified free-trade area across the three distinct customs territories, Vice-Minister of Commerce Yan Dong said at the Belt and Road Summit in Hong Kong.
It would also continue to support Hong Kong’s accession to the Regional Comprehensive Economic Partnership to expand its external economic and trade network, he said.
“The Ministry of Commerce will support Hong Kong in consolidating and enhancing its status as an international financial, shipping and trade hub,” Yan said.
“Hong Kong will play a bridging role in infrastructure connectivity, trade facilitation and financial integration, expanding trade and investment scale with partner countries.”
The ministry would also support Hong Kong in aligning itself with construction projects, organising the city and mainland enterprises to engage with more partner countries, and guiding Hong Kong businesses to provide high-level professional services – such as legal services, commercial arbitration and financial insurance – for projects like outward investment and contracted engineering, he added.
