Mainland and Hong Kong Closer Economic Partnership Arrangement
Okay kiddo, do you know what Hong Kong is? It's a big city in China where many people live and work. And do you know what a partnership is? It's when two people or groups work together to do something.
Well, the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA for short) is like a big partnership between Hong Kong and China. It's a way for the two places to work together and help each other out when it comes to buying and selling things.
This partnership makes it easier for businesses in Hong Kong to sell their products in China, because they don't have to pay as much in taxes or face so many rules and regulations. And it also helps businesses in China, because they can sell their products more easily in Hong Kong.
CEPA started back in 2003, and it's still going strong today. It's helped to make trade between China and Hong Kong much smoother and more efficient, which is good for everyone involved.
Well, the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA for short) is like a big partnership between Hong Kong and China. It's a way for the two places to work together and help each other out when it comes to buying and selling things.
This partnership makes it easier for businesses in Hong Kong to sell their products in China, because they don't have to pay as much in taxes or face so many rules and regulations. And it also helps businesses in China, because they can sell their products more easily in Hong Kong.
CEPA started back in 2003, and it's still going strong today. It's helped to make trade between China and Hong Kong much smoother and more efficient, which is good for everyone involved.