WTO and Hong Kong

The SAR community is finally waking up to China's WTO and remains eager to enter into the Closer Economic Partnership Agreement (CEPA) with the Mainland. Most of us believe that something crucial will happen and we need to react correctly and promptly. However, the question is, "what should we do immediately to get ourselves ready for this event and do we really have enough time to do so?" To answer this question, we need to know what exactly the WTO is all about to China first.