The Closer Economic Partnership Arrangement will help Hong Kong develop value-added products and a region-based economy, promoting our economic restructuring.

Speaking in the Legislative Council today, Financial Secretary Antony Leung said companies which relocate their off-shore production of value added products to Hong Kong will benefit from the zero tariff arrangement under CEPA.

Companies that have to import more expensive materials for manufacturing their products will also stand to benefit.

Mr Leung said CEPA is a win-win arrangement for both Hong Kong and the Mainland. It will help promote the Mainland's servicing sector.

And Hong Kong, being an international financial centre, will provide a platform for mainland enterprises wanting to enter the international arena.

The Government will study what measures and policy changes are needed to enable various industries to take advantage of CEPA. Different bureaux will consult individual industries on the matter.

Secretary for Commerce, Industry & Technology Henry Tang stressed that while the Government will try to effect policy changes to facilitate the industries, they will have to exercise sharp business sense to maximise their yields from CEPA.

A series of CEPA promotional activities are set to be launched. The bureau will conduct briefings for chambers of commerce and consulates, and the Trade Development Council will organise seminars for local companies.

InvestHK and the HK Tourism Board will enhance exchanges with the Mainland, especially the Pearl River Delta region.

Mr Tang said the bureau will consider providing one-stop services for local small and medium enterprises that enter the Mainland market.