The Outward Processing Arrangement (OPA) concerns the textile industry in Hong Kong and the People's Republic of China. It states that Hong Kong manufacturers can subcontract subsidiary and finishing processes to mainland factories, as long as the "major transformation" of the garment takes place in Hong Kong. Major transformation, however, only need to amount to 10% of cloth processing. Effective from 10 June 2005, Hong Kong manufacturers can apply to the Trade and Industry Department of Hong Kong for exemption of export duty in association with the processed garments as they are being exported from China.
Famous quotes containing the words outward and/or arrangement:
“But how do the poor minority fare? Perhaps it will be found that just in proportion as some have been placed in outward circumstances above the savage, others have been degraded below him. The luxury of one class is counterbalanced by the indigence of another. On the one side is the palace, on the other are the almshouse and silent poor.”
—Henry David Thoreau (18171862)
“The work of Henry James has always seemed divisible by a simple dynastic arrangement into three reigns: James I, James II, and the Old Pretender.”
—Philip Guedalla (18891944)