CGTN: Revving up services trade, China is committed to higher-level opening
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BEIJING, Sept. 6, 2022 /PRNewswire=KYODO JBN/ --
With the 2022 China International Fair for Trade in Services (CIFTIS) drawing
to a close on Monday in Beijing, the country has sent a signal of its
unwavering determination to push for a broader and deeper opening-up.
Titled "Cooperate for better development, innovate for a greener future", this
year's event features an exhibition area of 152,000 square meters with the
participation of more than 2,400 companies, including over 400 Global Fortune
500 companies and industry-leading enterprises.
Data from the Chinese Ministry of Commerce (MOC) showed that a total of 1,339
projects were signed, among which 513 were construction projects, 175
investment deals, 128 strategic agreements, and 173 first-launch products.
The CIFTIS is a crucial platform for China to expand opening-up, deepen
cooperation and pioneer innovation, Chinese President Xi Jinping noted in a
congratulatory letter to the 2022 CIFTIS Wednesday.
He voiced the country's willingness to work with other countries to uphold real
multilateralism, inclusiveness and win-win cooperation, and jointly promote the
open and shared services economy to inject impetus into the recovery of the
global economy.
Green development highlighted
This year's CIFTIS has set up an environmental services section for the first
time. It's focusing on green development, amid the country's efforts to achieve
its carbon peak and carbon neutrality goals.
This section covers an area of 16,700 square meters and focuses on topics such
as low-carbon energy, the climate and carbon economy, and carbon neutrality and
green technology.
A number of new products and technologies such as green low-carbon cloud
computing servers, ESG carbon footprint calculation, and green personal
computers were demonstrated.
The organizers also hosted 24 forum and conference activities to deeply explore
the global cooperation path of green development.
"Visions will come true only when we act on them," Xi noted in a written
statement to the 26th United Nations Conference of Parties on Climate Change
last year as China has seen remarkable progress in energy saving and carbon
reduction over the past decade.
By 2021, China's energy consumption per unit of GDP has plunged 26.2 percent
from 2012 and has reduced its carbon intensity by 34 percent in the past decade.
Burgeoning services trade in China
China's services trade has delivered a meteoric expansion with the added-value
of China's services sector soaring 1.49 times over the past 10 years and
cumulative trade in services exceeding $4 trillion.
In the first half of 2022, China's import and export of services also notched
up 2.89 trillion yuan ($419 billion), an increase of 21.6 percent year-on-year.
Overseas investors also find sweet spots in the growing Chinese services
sector. The MOC said China's actual use of foreign investment in 2021 surged by
14.9 percent year-on-year to about 1.15 trillion yuan ($180.72 billion), of
which the services sector accounted for 79 percent of the total.
In his congratulatory letter, the Chinese president also pledged that the
country stays committed to promoting broadening market access in the services
sector, facilitating opening-up in cross-border services trade, and striving to
establish a high-standard opening-up system for the services sector.
Injecting vitality to global economy
In his congratulatory letter, Xi pointed out the CIFTIS making active
contributions to the development of global services and services trade.
No doubt the CIFTIS is being held timely to enhance global cooperation, United
Arab Emirates' (UAE) Ambassador to China Dr. Ali Obaid Al Dhaheri echoed Xi's
words during a recent interview with CGTN.
Addressing the Global Trade in Services Summit of the 2022 CIFTIS on Wednesday,
World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala stressed
today's world economy is increasingly driven by the services sector, and with
the accelerating digitalization of services trade, the share of services trade
in global trade will continue to rise.
China's services trade has had an average annual growth rate of 6.1 percent
over the past decade, 3.1 percentage points higher than the global level, per
the Commerce Ministry. The country's services trade volume has held the second
spot globally for eight years in a row.
Currently, more than 200 countries and regions have services trade with China.
The holding of CIFTIS fully demonstrates China's commitment to further opening
up its services sector, which is welcomed by the world, Raja Dato' Nushirwan
Zainal Abidin, Malaysian Ambassador to China told CGTN.
Source CGTN
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