Hong Kong's trade pact with the mainland boosted the territory's export market in 2004, although many businesses have not taken advantage of the agreement, state media reported, citing a government report. After the Closer Economic Partnership Arrangement (CEPA) eliminated tariffs on a variety of goods, exports to the mainland rose 3% last year to HK$40bn (US$4.9 billion), reversing a three-year downward trend. Exports to the mainland account for 30% of the territory's total domestic exports.
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