BEIJING: The 2024 China International Fair for Trade in Services (CIFTIS) commenced on Thursday, showcasing China’s determination to further open up to the world and its willingness to share the dividends of its growth. The event witnessed enthusiastic attendance from countries around the world, offering a strong rebuttal to the decoupling efforts by some politicians in the West, analysts said.
Chinese President Xi Jinping on Thursday sent a congratulatory letter to the 2024 CIFTIS. Xi pointed out that CIFTIS, having been successfully held for 10 years, is a vivid portrayal of the high-quality development of China’s services industry and services trade, making positive contributions to the building of an open world economy.
On Thursday, the China National Convention Center and Shougang Park in Beijing were crowded with exhibitors and visitors from around the world, with displays featuring exhibits ranging from artificial intelligence (AI)-powered surgical robots and passenger drones to hydrogen fuel motorbikes, giving the event a tech-driven, futuristic feel, the Global Times observed.
Together with the China Import and Export Fair and the China International Import Expo, which will be held later this year, the CIFTIS underlined China’s commitment to opening up its services sector and sharing its vast market potential with the world, Chinese analysts said.
Paulo Jorge Nascimento, Portuguese Ambassador to China, told the Global Times on Thursday that Portugal, having a keen interest in expanding the services trade, has been following CIFTIS for a long time and “now we think it is the right time to set up our first independent booth as the two countries celebrate the 45th anniversary of diplomatic relations.”
The ambassador said that with trade in goods dominating bilateral trade currently, “there is a huge space to increase trade in services between the two countries.”
Companies and exhibitors expressed optimism about leveraging China’s rapidly growing services sector and benefiting from the country’s innovation-driven growth.
A long list of Global 500 firms, including Tesla, Siemens and Amazon, attended the event, which runs from September 12 to 16.
A resolution adopted by the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) in July called for adopting innovative measures to boost trade in services, and fully apply the “negative list” for cross-border trade in services.
China’s determination to further open up its services sector has resonated well with global companies. –The Daily Mail-Global Times news exchange item
