Geographical and Free Trade advantages in Hong Kong
THE UNITED STATES AND THE HONG KONG SPECIAL ADMINISTRATIVE REGION
SOME IMPORTANT FACTS
Business Centre in Asia – Hong Kong is ideally located in the middle of Mainland China and Asia. It enjoys convenient transport connections, close to the region's most exciting business markets.
Efficient and effective regional travel is the key to Hong Kong's geographical success.
over 100 airlines flying to 180 locations,
All Asian markets are less than four hours' flight away,
Half the world's population is within five hours' flight time,
Unique gateway to the Mainland China
Hong Kong is offering easy access to Mainland China business opportunities. The Pearl River Delta (PRD) region is immediately to the north of Hong Kong and business people commute regularly and easily in between.
Free Trade and Export in Hong Kong
Hong Kong is well known to be a free port with simple customs procedure. In recent US-China Trade War, with the Hong Kong Special Administrative Region title, Hong Kong is in a relatively lower risk on particular measures.
Hong Kong is a free port and does not levy any Customs tariff on imports or exports.
Rules of Origin
The certification system in Hong Kong is to facilitate local products to be exported outside Hong Kong by certifying their origins.
Trade in Goods Arrangements under Free Trade Agreement between Hong Kong and Other Economies
Hong Kong has concluded Free Trade Agreements with certain economies. Hong Kong's exports to these economies can enjoy preferential tariff treatment if they meet specific rules of origin.
Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA)
Goods exported from Hong Kong to the Mainland must fulfill the CEPA origin rules in order to claim zero tariff under CEPA. To claim the tariff preference, each consignment of goods exported to the Mainland must be accompanied by a Certificate of Hong Kong Origin - CEPA ("CO(CEPA)") issued by the Trade and Industry Department or one of the five Government Approved Certification Organizations (i.e. the Hong Kong General Chamber of Commerce; Federation of Hong Kong Industries; the Chinese Manufacturers' Association of Hong Kong, the Chinese General Chamber of Commerce and the Indian Chamber of Commerce, Hong Kong). Before applying for CO(CEPA), the Hong Kong manufacturer concerned is required to apply for Factory Registration (FR) with the Trade and Industry Department to demonstrate that its factory possesses sufficient capacity to produce the goods for export.
The Mainland has agreed to fully implement zero tariff on imported goods of Hong Kong origin starting from 1 January 2006, upon applications by local manufacturers and upon the CEPA rules of origin (ROOs) being agreed and met. Goods exported from Hong Kong to the Mainland must fulfil the CEPA ROOs to enjoy tariff benefit