BEIJING, March 10 -- South China's Guangdong Province will further facilitate market access for service providers from Hong Kong and Macao, the State Council, or the cabinet, announced on Tuesday.
Local authorities in Guangdong are required to make adjustments to regulations on administrative approval in order to boost service trade liberalization for investors from Hong Kong and Macao, according to a decision released by the State Council.
Businesses owned by Hong Kong and Macao investors will no longer be treated as foreign companies whose establishment or business conversion usually need to undergo examination and approval procedures, it said.
According to the decision, Guangdong will further open the local services industry to investors from Hong Kong and Macao under the Closer Economic Partnership Arrangement.
Adjustment is required for rules that regulate industries of telecommunications, joint school operation, sea transportation, entertainment, video gaming and civil aviation.
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