The Hong Kong Special Administrative Region Government stated that the agreement on the amendment of the "CEPA Service Trade Agreement" (Agreement II) signed by the Ministry of Commerce of the country and the Special Administrative Region Government under the framework of the "Mainland and Hong Kong Closer Economic Partnership Arrangement" (CEPA) will be implemented starting tomorrow.

The amended Agreement II further opens up the mainland service market to Hong Kong, adding measures for sectors such as finance, construction and related engineering, testing and certification, telecommunications, film, television, and tourism. These measures include the removal or relaxation of equity ratio and business scope restrictions for the establishment of enterprises; relaxation of qualification requirements for Hong Kong professionals providing services; and relaxation of restrictions on the export of Hong Kong services to the mainland market. Most of the opening measures apply to the entire mainland, with some being piloted in the nine cities of the Guangdong-Hong Kong-Macao Greater Bay Area.

The amended Agreement II also introduces "Hong Kong Capital, Hong Kong Law" and "Hong Kong Capital, Hong Kong Arbitration" as measures to facilitate Hong Kong investors, as well as the cancellation of the requirement for Hong Kong service providers to engage in substantial operations in Hong Kong for three years in most service sectors