This paper examines the business opportunities arising from the new package of CEPA liberalisations agreed in July 2008, the major focus of which is the introduction of 29 measures spanning 17 services sectors, building on the liberalisation of 15 existing sectors and opening two new sectors. Another major CEPA development is the incorporation of a number of Guangdong pilot measures in the new package, which should further facilitate Hong Kong services suppliers in their targeting of the Guangdong market.