A Study On The Promotion Of International Competitive Ability Of Chinese Service Industry Under CEPA

The fast development of the world economy brings about more opportunities and challenges for the service industry in China. The Closer Economic Partnership Arrangement (CEPA) between mainland China and HK is a preferential arrangement to deal with this situation. CEPA belongs to free trade agreement. The study of service industry under CEPA can help to better understand the current situations of service industry in China and to know the effects of CEPA on the opening of Chinese service industry. Through this process, we can enrich the theory of extrovert-oriented service industry and have a better stand in practice when facing the fierce international competitionThis paper tries to find out how to make use of HK, the international financial center and international service trade center to speed up the opening and international development of mainland service industry under CEPA. The paper makes a research on the opening and international development of service industry in China under CEPA. The purpose of the paper is to put forward some strategies about how to improve the international competitive ability of service industry in China.The paper is divided into five parts. The first part gives an introduction to the background and history of CEPA. This part is the foundation of the whole article. The second part gives some basic information of CEPA, including the main contents, the characteristics and strategic implication of CEPA. This part describes some details of CEPA and also introduces new development of CEPA itself. The third part makes an analysis of the development and opening situations of service industry in China. The method of comparison is used to analyze the different opening situations before and after the implementation of CEPA. Through comparison, the effect of CEPA on the opening situations of service development is clear. The fourth part makes an analysis of the competitive ability of service industry under CEPA. Comparison method is also used in this part to analyze the change of competitive ability of service industry caused by CEPA. The fifth part is the conclusion of this paper. This part analyzes the effect of CEPA on the internationalization of different service areas and then gives some strategies of improving the competitive ability of service industry in China. At the same time, those strategies will speed up the internationalization of service industry.