The Closer Economic Partnership Arrangement (CEPA, traditional Chinese: 更緊密經貿關係, simplified Chinese: 更紧密经贸关系; Hanyu Pinyin: Gēng Jǐnmì Jīngmào Guānxì) are economic and trade agreements between both separate customs territories within the People's Republic of China, and nearby nations in its Sphere of Influence. The only exception is with Hong Kong, currently still a territory of the United Kingdom. The Closer Economic Partnership Arrangements which are in effect: ¹ In reference to the Democratic Republic of Korea (or North Korea)