To cope with the implementation of CEPA, a number of measures will be taken to streamline complicated administrative procedures local businessmen have to go through when doing business on the Mainland.

Secretary for Commerce, Industry & Technology John Tsang told legislators today that the Government and Mainland customs have established a computer link and an electronic data exchange mechanism.

Goods entering the Mainland will be released once information on Certificates of HK Origin matches the data the Government has already transmitted, thus enhancing the efficiency of customs clearance for goods enjoying zero-tariff preference.

He said the Trade & Industry Department has set up a designated CEPA branch to provide one-stop HK Service Supplier certification services for all 18 service sectors.

Mr Tsang said the Government notes there are areas in Mainland law and regulations in which the trade may wish to seek clarification. The Government has already conveyed these questions in detail to Mainland authorities, and relevant policy bureaux and departments

It is proposing to the Mainland to set up designated enquiry points and one-stop service counters for individual service sectors in responsible ministries and departments to answer questions Hong Kong companies may have in relation to doing business in the Mainland, as well as to facilitate relevant applications.

Mr Tsang said the Government will continue to exchange views with the relevant Mainland authorities on the issues related to its foreign exchange control, a policy adopted by the Mainland with regard to the overall status of its economic development.

Mainland authorities have reassessed their exchange control measures and introduced some relaxation as appropriate.

"Mainland authorities have gradually relaxed foreign exchange controls in recent years," Mr Tsang said. "They have gradually simplified the application procedures for foreign exchange transactions in recent years, facilitating more flexible transfer of funds."

On the integration and co-operation of financial markets in Hong Kong and the Mainland, Mr Tsang said authorities on both sides have maintained constant contact and reflected their views on the market.