-The 2021 China International Fair for Trade in Services kicked off in Beijing, highlighting China’s new pledges to open the country’s services sector wider
-Chinese President Xi Jinping announced a slew of new measures at the CIFTIS 2021
BEIJING: The 2021 China International Fair for Trade in Services (CIFTIS) kicked off in Beijing, highlighting China’s new pledges to open the country’s services sector wider and enhance global cooperation for further economic recovery.
Themed “Towards Digital Future and Service Driven Development,” the fair, held both online and offline, will tap the potential of cutting-edge digital technologies and functions as a platform for promoting world economic recovery and growth. Enterprises from home and abroad have flocked to the fair, hoping to seek opportunities in the world’s second-largest economy.
The 2021 CIFTIS has attracted the registration from more than 12,000 enterprises, up 52 percent from that in 2020. Representatives from 153 countries and regions signed up for the event, according to the Ministry of Commerce (MOC).
Up to 21 percent of offline exhibitors are Fortune 500 companies or industry leading enterprises, according to the MOC. Along with Thursday’s Global Trade in Services Summit of the 2021 CIFTIS, five summit forums as well as 119 thematic forums and conferences will also be held on the sidelines.
The holding of CIFTIS this year has shown that China is open and confident about embracing the world, and is committed to working with the global community to “make its market cake bigger” so that everyone can enjoy and share the benefits, said Michael Bi, EY Greater China Markets Managing Partner.
MOC data showed that China’s services trade rose by 7.3 percent year on year to nearly 2.81 trillion yuan (about 435.02 billion U.S. dollars) in the first seven months of the year. Chinese President Xi Jinping on Thursday announced a slew of new measures at the Global Trade in Services Summit.
China will open up at a higher level, by implementing across the country a negative list for cross-border services trade and by exploring the development of national demonstration zones for the innovative development of trade in services, said Xi. – Agencies
