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Jake Van Der Kamp

Hong Kong and Guangdong are still working to tear down more barriers to cross-border trade in services, leaders of the two governments said yesterday, as business chiefs bemoaned the long wait for details… 
South China Morning Post, November 7
Three paragraphs down, our report gives the game away - "'We are still trying to secure the endorsement from the Commerce Department,' [Guangdong Governor Zhu Xiaodan] said after attending the 17th cooperation meeting between the governments in Guangzhou."
That's 11 years and 17 talk shops since Hong Kong secured a so-called Closer Economic Partnership Arrangement (Cepa) with the mainland, and the sum total of the achievement so far is a photo of Guangdong party secretary Hu Chunhua laughing in delight with Hong Kong's Leung Chun-ying over some secret joke.
I'll let you in on the secret. The joke is on Hong Kong.
What happened here is that following China's accession to the World Trade Organisation in 2001, Beijing set up Cepa to introduce Hong Kong at an early stage to the trade relaxations expected from the WTO, particularly in trade with Guangdong. These relaxations never materialised, of course. The WTO has proved a failure.
They would in any case increasingly have proved pointless. As the chart shows, domestic exports to the mainland have declined to the equivalent of barely one per cent of our gross domestic product.
All the emphasis has instead gone to trade in services, and while we have opened our borders wide to mainland bankers, traders, insurers, shippers and other service providers, only the slightest cracks in the door have been opened for access the other way.
To give you the flavour of things, the two sides signed five cooperation agreements at the talking shop on Thursday:


Framework Agreement on Co-development of Modern Research Projects
This is one they apparently sign at every meeting. I don't have the details of the latest iteration but, going by the past, the two sides are "working closely to actively implement the various policies and measures of the framework agreement …"


Cultural Exchange and Co-operation Development Plan
Dance troupes. Cultural exchanges without a political angle have never faced difficulties. This is no special achievement.


Co-operation Plan for the Sharing of Vessel Traffic Services Data in the Pearl River Estuary Region
It's getting mighty busy on our waterways and we don't want ships crashing into each other. This is entirely laudable but has nothing to with trade barriers.


Guangdong-Hong Kong Cooperation Agreement on Cleaner Production
An existing initiative presented in new wrapping paper and pink ribbons. The last one made plenty of references to "taking concerted actions", "enhancing cleaner production" and, my personal favourite, "promoting development of circular economy", which is shorthand for shipping our trash to Guangdong if we call it "reusable". This at least would be an export, a real breakthrough at last.


Cooperation Agreement in Meteorological Science and Technology
"Yoo-hoo, is it raining up there in Guangzhou?" "Yes, it is. How did you guess? What is the weather like in Hong Kong?" I concede that C.Y. made a few noises about pushing Cepa further along and I'm sure everyone on the other side nodded. There, that's that crossed off the agenda. I side with the students down at Admiralty here. This man does not represent us. If he did, he would refuse to go to any more of these sham talk shops unless some real concessions are made. But he won't.




Enough debate: Hong Kong must be part of Greater Bay’s explosive growth or risk being left behind

14 years after China free-trade deal saved Hong Kong from Sars slump, analysts warn city must innovate to make most of Cepa

China and Hong Kong sign two trade agreements giving local firms preferential investment access

China's services market opens up further to Hong Kong professionals as finance officials sign expanded Cepa pact

CEPA

The joke is on Hong Kong in endless talks on Guangdong trade deal

Guangdong Governor Zhu Xiaodan says they are still trying to secure the endorsement from the Commerce Department.

CY Leung says Hong Kong is in discussions with Beijing over latest Cepa trade deal 

Leung with Guangdong Party chief Hu Chunhua. Photo: SCMP

Leung said he was jealous of Guangdong's GDP growth. Photo: Nora Tam

Opinion

Comment

News

Hong Kong

It's 11 years and 17 talk shops since Hong Kong secured a so-called Closer Economic Partnership Arrangement (Cepa) with the mainland, and the sum total of the achievement so far is a photo of Guangdong party secretary Hu Chunhua laughing in delight with Hong Kong's Leung Chun-ying over some secret joke.


Expresses the views, ideas and conclusions of the author. (Eg. Enough of Crazy Rich Asians, think of crazy poor Hongkongers.)


Column

Jake's View

Jake'S View | The joke is on Hong Kong in endless talks on Guangdong trade deal