Services sector to increase its economic worth (4)

"There are bright prospects for the mainland and Hong Kong to cooperate in the services sector", taking advantage in particular, of the city's "mature industrial links, rich talent pool and broad international network", as the mainland continues its rapid development, Lu said.

He added the mainland has now opened 93.1 percent of its services sector to Hong Kong investment, and that Supplement IV to the Closer Economic Partnership Arrangement, or CEPA, signed on June 29, had further lowered the threshold for Hong Kong businesses to invest.

The first China Beijing International Fair for Trade in Services, held from May 28 to June 1, saw agreements signed worth $60.11 billion.

A third of that value came from Hong Kong, according to Su Bensheng, director of the trade in services division of Beijing Municipal Commission of Commerce.

The second fair will be held in Beijing from May 28 to June 1, 2013.

Xu Kang, deputy head of Beijing Municipal Commission of Commerce, added: "In addition to showcasing the progress being made in the services sector, the fair next year will attract more growing enterprises from within the modern sector."

lijiabao@chinadaily.com.cn

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