In a move that signals big prospects for Guangzhou's new Baiyun International Airport, Brinks Company logistics arm BAX Global opened a new subsidiary in the city. Ironically, given the fact Hong Kong now faces stiffer competition for cargo handling from Guangzhou's new hub, BAX got help from Hong Kong's free trade pact with the mainland. The Closer Economic Partnership Arrangement (Cepa) provides for duty free access of, besides a range of trade goods, a number of services with established bases in the Special Administrative Region. BAX said it expected its mainland business to expand tenfold within a year and said it planned to open Baiyun office by yearend.
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