Secretary for Commerce, Industry & Technology John Tsang will leave for Hangzhou on October 18 to officiate at the opening ceremony of the Hong Kong Watch Centre. Manufacturers of Hong Kong brand name watch and clock products, which enjoy tariff-free preference under CEPA, have set up the centre.

Mr Tsang will also meet Hangzhou Vice-mayor Xiang Qin to exchange views on how to foster closer trade and economic co-operation between the two places, and investment opportunities made under CEPA.

Watches and clocks are among the many products eligible for zero tariff under the first phase of CEPA which came into operation on January 1.

The Hong Kong Watch Centre in Hangzhou is the first business initiative launched by Hong Kong's watch and clock industry to leverage on CEPA to expand their business in the Mainland.