The agreement, signed in Davos, Switzerland, on Thursday local time by representatives of the two sides on the sidelines of the World Economic Forum Annual Meeting, is set to enhance the confidence of investors, expand investment flows and further strengthen the economic and trade ties between the two places, the HKSAR government's Trade and Industry Department said in a press release.
"Hong Kong has been making dedicated efforts to expand its network of IPPAs in order to enhance two-way investment flows and boost our economy," Yau said. The agreement also provides for settlement of investment disputes under internationally accepted rules and will enter into force after the fulfillment of relevant internal requirements by both sides.
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