"The Mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA), to be implemented on 1st January 2004, will bring benefits to Hong Kong's service economy. Under CEPA, Hong Kong companies in a wide-range of service industries can benefit from market access measures above and beyond the Mainland's WTO commitments. Market liberalisation measures associated with China's WTO accession are applicable to all WTO members, including Hong Kong. CEPA measures are above and beyond the WTO commitments, and apply only to those qualified as "Hong Kong companies". CEPA also provides opportunities for Hong Kong professionals and residents to establish business or work on the Mainland."