BEIJING: Now more than just a producer of processors, U.S. tech firm Intel’s presence has been growing in the Chinese market. The company’s artificial intelligence (AI) technologies were used during the closing ceremony of the Beijing Winter Olympics in February. Snowflakes on the floor beneath performers gleamed where they stepped. The same technology was again put on display at the 2022 China International Fair for Trade in Services (CIFTIS) in Beijing from August 31 to September 5. As presented on the fair, Intel’s AI system traces the movement of athletes without wearable devices to help with their training.
In cooperation with Chinese tech company Baidu, Intel has developed a platform known as PaddlePaddle that facilitates intelligent industrial upgrading. As part of efforts to increase sustainability, the company is also using big data to monitor energy use during its laptop production and collecting heat from its data centers for further use.
The 2022 CIFTIS theme was Cooperate for Better Development, Innovate for a Greener Future. The fair saw the attendance of some 400 corporations on the Fortune Global 500 ranking and global leaders in related industries. A new exhibition area for environmental protection was added this year, with enterprises engaged in low-carbon development debuting their green technologies.
Trade in services covers fields including transportation, tourism, telecommunications, construction, advertising and computing. Data from the Ministry of Commerce showed that China’s service trade value grew 20.7 percent year on year to 3.39 trillion yuan ($492.6 billion) in the first seven months of 2022. The service trade deficit dropped 20.1 percent to 107.73 billion yuan ($15.5 billion) between January and July.
Over that period, China’s trade in knowledge-intensive services rose 10.2 percent year on year. Travel service trade has also resumed, with its volume expanding 7.5 percent from the previous year to 462.23 billion yuan ($66.6 billion).
“China’s trade in services had already recovered to pre-pandemic levels by late 2021. It has become a new driving force for the overall foreign trade growth,” Nie Pingxiang, a researcher with the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, told Beijing Review.
–The Daily Mail-Beijing
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