"For only HK$38,000, the company is able to achieve a certification recognized by the Chinese government," he said. "Some applicants even told me it will help to gain credibility from foreign clients or investors who are interested in expanding into China."

Nevertheless, Lai said the certification is meaningless, because it doesn't bring the company more business opportunities, and the requirement is also irrelevant.

"The (HKSAR) government should aim to abolish the CISIQ, it is unfair to exclude companies without the certification to participate in the bidding process," he said. "They should evaluate the companies using international standards, instead of criteria like the number of staff."

Furthermore, with lots of unexpected complications in the application process, Lai said, it shows both side of the governments had been rushing to launch the initiative last year.

"It sounds more like a political initiative for CEPA than [something that] brings actual benefit for the industry," he said.