Xinhua Silk Road: China’s int’l services trade fair brings hope and confidence to global economy

BEIJING, Sept. 7, 2021 /PRNewswire/ — The ongoing 2021 China International Fair for Trade in Services (CIFTIS), highlighting China’s determination and action to open up at a higher level, has brought hope and confidence to global economy.

China has demonstrated its commitment to opening up wider and sharing growth opportunity with the global community by hosting the event as scheduled this year amid the COVID-19 pandemic.

Themed "Towards Digital Future and Service Driven Development," this year’s fair, held both online and offline from Sept. 2 to 7, features opening-up and cooperation across the board, providing an important platform for global market players to showcase their latest services.

With wider reach, the trade fair has attracted more than 10,000 enterprises from 153 countries and regions, five more countries compared to last year’s event, with more Fortune 500 companies involved.

The magnet effect, in fact, is due to China’s huge market and improved business environment. China has been the world’s second-largest country in services trade for seven years, building services trade relations with nearly 240 countries and regions.

China has taken a raft of measures to deepen opening-up of its service sector, such as shortening the negative list for foreign investment for four consecutive years and making opening-up commitments in 22 more service fields.

China will open up at a higher level by implementing nationwide a negative list for cross-border services trade, upgrading the digital trade pilot zones to demonstration zones, deepening the reform of the New Third Board (National Equities Exchange and Quotations) and setting up Beijing Stock Exchange.

Using peace, development and win-win cooperation as the "golden key", China will work with other countries to boost the services trade as well as the world economy.

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