(cnhubei.com) Hubei’s first CEPA zero-tariff store will open the end of this year in Wuhan, its capital city.
The store is located in Jianghan Road, one of the downtown commercial hubs in Wuhan.
CEPA stands for “Closer Economic Partnership Arrangement between Hong Kong, Macao and the Chinese mainland”.
CEPA is a free trade agreement under WTO rules which gives preferential access to mainland market for Hong Kong companies.
Effective from January 1, 2004, 311 Hong Kong and Macao products are exempt from tariffs when exported to the mainland.
"These products account for around 90 per cent of the exports from Hong Kong to the mainland," said Cliff Sun, vice-chairman of the Federation of Hong Kong Industries.
