Since 2007,China has continued to expand opening areas in service industry by releasing Regulation on The Administration of Foreign-funded Banks to further enlarge opening financial areas, revising Regulation on Sino-foreign Cooperation in the Exploitation of Continental Petroleum Resources to permit other enterprises with authorization of the State Council to engage in foreign cooperation on coal bed exploration, and issuing Regulation on the Administration of Commercial Franchises to standardize commercial franchise business activities. Based on CEPA supplementary agreement four signed between the MOFCOM, HK and Macao governments in Jun. 2007, from Jan.1 2008, the mainland will further loose market access requirements to HK and Macao investors in 28 service and trade areas such as law, medical care, public utility, telecom, insurance, bank, securities, etc. apart from those in the Arrangement and three supplementary agreements. In addition, China will expand opening in such distribution areas as book, construction engineering design service and commercial area, and will also delegate approval authorization. For instance,  General Administration of Press and Publication and the MOFCOM released Supplementary Provisions on the Measures for the Administration of Foreign-funded Distribution Enterprises of Books, Newspapers and Periodicals; Ministry of Housing and Urban-Rural Construction and the MOFCOM released Regulations on Administration of Foreign-invested Construction and Engineering Service Enterprises; the MOFCOM released Supplementary Regulation Ⅲ for Measures for the Administration on Foreign Investment in Commercial Fields and Notification on Further Delegating Approval Authorization and Simplify Approval, and so on.