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Mainland to exempt duty on more goods of Macao origin
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About 134 more items originated from Macao will be exported to China's mainland with zero-tariff from July 1 this year, Macao Economic Services said in a press release Friday.
Under the framework of the Mainland and Macao Closer Economic Partnership Arrangement (CEPA) implemented in 2004, the new varieties of goods with Macao origin to be on zero-tariff list include foods, textiles, printing materials, horologe and pens.
It is noted that the products made of raw materials provided by the Portuguese-speaking countries will be regarded as Macao origin. Analysis believed that more foreign investment will start manufacturing business here and take advantage of tariff-free policy to exploit the mainland market.
Statistic showed that the value of Macao's zero-tariff exports to the mainland reached 707 million Macanese patacas (US$88.47 million) since 2004, with tax abatement amounting to 53.43 million patacas.
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