2008 and 2009， V and VI were signed in 2004， the Central Government of China signed the Closer Economic Partnership Arrangement (CEPA) with the Government of the Special Administrative Region of Hong Kong and the Government of the Special Administrative Region of Macao respectively. Supplement I， IV， 2006， Two Systems” principle。

respectively. The CEPA is a successful application of the “One Country。

II， 2005， and an important milestone in the economic and trade exchange and cooperation between the mainland and Hong Kong and Macao. It is a Free Trade Agreement signed by the Central Government with the separate customs territories of Hong Kong and Macao ， III， In 2003， a new pathway for the institutional cooperation between the mainland and Hong Kong and Macao， and also the first FTA to be fully implemented in the Chinese mainland. ， 2007，。

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