A similar agreement, known as the Mainland and Hong Kong Closer Economic Partnership Arrangement, was signed between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China, signed on June 29, 2003.
Regular supplements with further liberalisations have been signed between the Mainland and Macau governments.
CEPA is a free trade agreement pursuant to which qualifying products, companies and residents of Macau enjoy preferential access to the mainland Chinese market.
Many of the preferences surpass the concessions made by China upon its accession to the World Trade Organization.
CEPA is stated to have the following objectives: "To strengthen trade and investment cooperation between Mainland China and Macau and promote joint development of the two sides, through the implementation of the following measures : The Annexes to CEPA elaborate measures to achieve these objectives and detail how products and service providers can qualify for the CEPA benefits, including: