Xi- Step up support for services sector

China stands ready to work with other countries to uphold openness and cooperation for mutual benefit and win-win results, share opportunities created by the development of trade in services, and promote world economic recovery and growth, President Xi Jinping said on Thursday.

Xi made the remark in a video speech delivered at the Global Trade in Services Summit of the 2021 China International Fair for Trade in 

Services in Beijing.

▲ President Xi Jinping addresses via video link on Thursday the Global Trade in Services Summit of the 2021 China International Fair for Trade in Services, which is being held in Beijing from Thursday to Tuesday. Yue Yuewei/Xinhua

The fair, with the theme "Towards Digital Future and Service Driven Development", is being held from Thursday to Tuesday, with more than 12,000 domestic and international enterprises signing up for participation.

Xi told the participants that China will open up at a higher level by implementing nationwide 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.

A negative list refers to special administrative measures for the access of foreign investment in certain industries or areas.

The country will create more possibilities for cooperation by increasing support for the growth of the services sector in Belt and Road partner countries and by sharing the country's technological achievements with the rest of the world, Xi said.

Xi also committed to further improving rules for the services sector and supporting the innovation-driven development of small and medium-sized enterprises through concrete measures.

China's trade in services reached more than 2.8 trillion yuan ($434 billion) during the first seven months of the year, growing 7.3 percent year-on-year, according to the Ministry of Commerce.

Digital services are experiencing a gradual shift from an alternative to a necessity, as traditional forms in the services sector, such as tourism and transportation, have been hit hard by the COVID-19 pandemic.

In 2020, China's digitally deliverable trade in services rose 8.4 percent year-on-year and accounted for 44.5 percent of the total services trade, Ministry of Commerce data showed.

While livestreaming, e-commerce, unmanned logistics and other forms of digital services are booming, China has also been strengthening its regulation of the digital industry to provide fertile soil for high-quality growth. Chinese authorities have been making progress in breaking the monopoly of a few internet giants to maintain fair and healthy market competition.

Nie Pingxiang, a researcher with the Chinese Academy of International Trade and Economic Cooperation, said the fair fully demonstrates China's unwavering commitment to opening-up and international cooperation.

"As China steps up reforms and opening-up in the services sector and further unleashes the potential of its huge, continuously expanding domestic market, the prospects of the nation's international economic and trade cooperation in the services sector are very bright," Nie said.

Jens Eskelund, managing director for China of Maersk Group, a Danish shipping and logistics service provider, said China can still improve efficiency and develop logistics infrastructure in many inland regions to support the growth of trade in services.

"As China has the most efficient logistics in the coastal provinces, there is still room to improve efficiency and develop logistics infrastructure in many inland locations," he said.

记者：曹德胜

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