The Closer Economic Partnership Arrangement will make it easier for Hong Kong lawyers to gain market entry to the Mainland.
Speaking at a seminar in Beijing today, Secretary for Justice Elsie Leung said under CEPA, residency requirements for Hong Kong lawyers is waived or relaxed, and they are allowed to sit for the National Judicial Examination, which cannot be taken by foreign lawyers.
They can acquire legal profession qualifications for limited practice on the Mainland.
"They are allowed to be employed by Mainland lawyers. A new system is established for Hong Kong and Mainland law firms to form associations," Ms Leung said.
Two sides to complement each other
Services provided by Hong Kong lawyers on the Mainland will be related to the investments or business of the Mainland or foreign enterprises there. Therefore Hong Kong lawyers need to co-operate with their Mainland counterparts, particularly in the area of litigation.
"A Mainland enterprise seeking to be listed in Hong Kong will need the services of both Hong Kong and Mainland lawyers. Therefore, liberalisation of the Mainland market will not give rise to any cut-throat competition between the legal professions of the two sides," she said, adding it will encourage the two sides to complement each other.
This will strengthen and enhance the quality of legal services in both jurisdictions, particularly in the specialised fields of international trade, corporate finance, financial business, securities, intellectual property and information technology.
"It is hoped that through co-operation, lawyers of the two sides can form a strong coalition of highly competitive international legal professionals."
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