Li Jiachao: Further opening up of the service trade under CEPA has reached a general consensus. Hong Kong legal practitioners will have greater business opportunities in the Mainland.

Hong Kong Chief Executive John Lee Ka-chiu stated in his speech at the "International Law Forum" on July 5th that there is now a general consensus on further opening up trade in services under the Closer Economic Partnership Arrangement (CEPA) between the Mainland and Hong Kong. The expanded areas include legal and financial services, which means that Hong Kong legal practitioners will have greater business opportunities in the Mainland, which is good news for legal professionals and the industry as a whole. John Lee Ka-chiu pointed out that with the support of the central government, Hong Kong has been selected as the headquarters of the International Arbitration Centre, which will further enhance Hong Kong's status as a hub for international dispute resolution in the Asia-Pacific region. Over the past 21 years, CEPA has provided preferential treatment for Hong Kong businesses and professionals operating in the Mainland, solidifying Hong Kong's role as a bridge connecting the Mainland with the rest of the world. As the Mainland has an extensive global trade network, Hong Kong as a special administrative region of the country and a founding member of the World Trade Organization, also plays an important role in international trade. As an international financial and legal center, Hong Kong, through the principle of "one country, two systems," encourages open trade.