Legal sector set to benefit from CEPA, says CE

President John Lee said on Friday that the local legal profession is among the sectors that will have greater opportunities to grow on the continent once new liberalisation measures under the Closer Economic Partnership Arrangement (CEPA) are finalised.

More details will be announced once both parties formally sign the new agreement.

Lee said CEPA strengthens the Hong Kong SAR’s role as a bridge between mainland China and the rest of the world, adding that Hong Kong is building connections and promoting open trade as an international financial and legal centre.

In a speech at a conference on international law and peaceful coexistence, he said the implementation of the new CEPA agreement would also allow SARs to contribute to the peaceful resolution of international disputes.

“Hong Kong lawyers will have more scope to operate on the mainland. This can only accelerate Hong Kong’s development as a hub for international legal services and dispute resolution in the Asia-Pacific region,” CE said.

“This is good news for our lawyers and the entire sector.”

Lee added that China traditionally believes that “peace is the most precious thing,” noting that this year marks the 70th anniversary of China’s promulgation of the “Five Principles of Peaceful Coexistence.”

“Although seven decades have passed since the five principles were announced, they remain highly relevant and necessary in today’s troubled world,” he said.