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Macao issues 1st CEPA certificates to retailers
(Xinhua)
Updated: 2004-08-13 09:47

The Macao Economic Services Bureau on Thursday issued the first batch of service provider certificates to local retailers, who will use CEPA's preferential policies to invest in China's mainland.

Three companies affiliated to Macao's famous garment retailer, the Rainbow Group, obtained the certificates for investing in the mainland under the facilitated trade terms of the Mainland/Macao Closer Economic Partnership Arrangement (CEPA).

Francis Leong, general manager of the Rainbow Group, said that by obtaining the certificates, the company, which acts as a retail agent for famous garment brandnames of Boss, Bally, Burberry and Maxmara, is expected to seize the chances of CEPA and the mainland's relaxed requirements for overseas investors to go into the retailing sector.

Since the Mainland/Macao CEPA went into effect on January 1, the bureau has issued 134 service provider certificates and 45 product origin certificates to local companies willing to invest in the mainland.

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