Advantages of Macau Excellent Geographical Location ¡V Macau is a highly opened city for commerce and trade. It has a strategic location and well developed infrastructure. Laissez-faire ¡V Macau has a free port trade, not only there is no restriction on foreign exchange but also movement of capital. Since the sovereignty has been returned to China, Macau¡¦s government has devoted its efforts in perfecting the business environment so as to let Macau¡¦s trade and investment remains among the most open in the world. Apart from those, Macau has a positive appraisal and recognition from the outside in general. Low Tax Rate ¡V Macau has a highly attractive fiscal policy with very low levels of taxation. Tax levied on corporate profits does not exceed 15%, which is the lowest in the region. Macau SAR Government is considering to lower the tax rate. Economic Development-The SAR Government has clearly defined its strategy for economic development: with gaming and tourism as the leading sectors, service sector as the backbone so as to co-ordinate with the development of other industries, and to build Macau into a tourism gaming centre, a MICE centre and a trading service centre with Asian characteristics. CEPA-Mainland and Macau Closer Economic Partnership Arrangement (CEPA) was concluded in last October with effect from Jan 1 this year which will further promote economic and trade co-operation and development between the two sides. CEPA is composed of three main areas, Trade in Goods, Trade in Services, and Trade and Investment Facilitation.