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As the first major international economic and trade event held by China since the outbreak of the epidemic, the 2020 China International Trade in Services Fair will open on September 4.
On September 3, the Information Office of the State Council held a press conference on the development of trade in services and preparations for the 2020 Services Fair.
Vice Minister of Commerce Wang Bingnan stated that the China International Services Trade Fair 2020 will showcase the remarkable results of China’s epidemic prevention and control and economic and social development, demonstrate my unwavering determination to promote openness and liberate China’s adherence to economic globalization. A positive sign to strengthen international economic and trade cooperation.
The “Daily Business News” reporter noted that despite the impact of the epidemic, China’s services trade deficit has declined significantly in the first seven months of this year. According to statistics from the Ministry of Commerce, from January to July, the decline in China’s service exports slowed and the decline in imports increased. The decrease in exports was 21.4 percentage points lower than imports. This led to a 49.4% decrease in the services trade deficit to 448.77 billion yuan, a year-on-year decrease of 438.35 billion yuan.
Source of the images at the press conference: All photos by reporter Zhang Huaishui
The exhibition adopts a combination of “online + offline”
Wang Bingnan pointed out that China is already the world’s largest exhibition country, with the largest exhibition area and the largest number of exhibition sessions in the world. The exhibition industry has entered an important stage of design optimization and quality improvement. In the field of trade in goods, the Shanghai Import Expo focuses on imports, the Guangzhou Canton Fair focuses on exports; Beijing Service Fair focuses on trade in services, and the three complement each other to form a comprehensive development of “Made in China” and “Services in China” in the new era. Promote the platform and promote the formation of a new pattern of national exhibitions led by “North, Shanghai and Guangzhou”.
Speaking about the format of this year’s service fair, Wang Bingnan introduced that this year’s China International Trade Fair for Services will adopt a combination of online and offline methods based on prevention and control needs. of epidemics and the development trend of digital exhibits. Although facing the impact of the epidemic, national and international exhibitors are excited to participate. It is still very high, the number of companies exceeds that of previous years, and a number of new models and achievements in the service sector will be fully demonstrated.
The “Daily Economic News” reporter learned from the press conference that the theme of the 2020 Service Fair is “Global Service, Reciprocal Exchange”, which will be held at the National Convention Center, Landscape Avenue. from the Olympic Park and the surrounding pavilions, using online and offline integration. The road, opened on September 4, closed on September 9.
According to Yang Jinbai, deputy mayor of Beijing, the 2020 Service Fair successfully completed its investment invitation and exhibition. International organizations, embassies in China, foreign trade associations, institutions and companies from 148 countries and regions participated in the exhibition. The top 30 countries and regions in trade in services have participating institutions and companies. A total of 18,000 domestic and foreign companies and institutions registered online and offline to participate in the exhibition. More than 100,000 people registered to participate in the exhibition. 381 previously funded exposure results were collected.
Yang Jinbo further stated that the conference organization concept highlights “three services” and “three new ones”. The first is to adhere to the strategy of serving the country and “new explorations” to help the dual cycle. Focusing on the “Belt and Road” and other issues, actively promote the implementation of national strategies, focus on improving the quality of original products and service launches of the exhibition, the degree of internationalization of the exhibition and help smooth the international and national dual cycle.
The second is to adhere to the development of high-quality services and “new empowerment” to promote transformation and improvement. Aiming for world-class technologies, standards and products, we will play the aggregation role of the exhibition platform, promote high-quality development, and promote industrial transformation and upgrade.
The third is to adhere to the opening of services and “new experience” to break the time and space to serve the world. A series of new policies and measures for opening up to the outside world will be published for the first time, and a series of new lists and new results will also be published one after another in the 12 main areas of trade in services.
On September 3, a reporter experimented with smart fitness equipment in the Sports and Cultural Integration Exhibition Area of the 2020 Service Fair. Image source: Xinhua News Agency
China’s service exports increase 9% annually
Wang Bingnan said that China has become an important contributor to the growth of global trade in services. According to statistics, China’s service exports have grown at an average annual rate of 9% over the past 15 years, which is 2.9 percentage points higher than the world average growth rate of service exports in the same period. . In terms of imports, over the past 15 years, China’s service imports have accumulated to US $ 4.5 trillion, contributing 12.9% to the growth of global services imports and driving an increase of 10, 4% in world imports of services.
“Especially since the financial crisis of 2008, China’s service imports have played a constructive role in stimulating demand in the global services market and have strongly promoted the growth of global services trade,” said Wang Bingnan.
In addition, last year the WTO published the “World Trade Report” under the theme “The Future of Trade in Services”. The report noted that trade in services has become the most dynamic part of international trade. In China, prioritizing the development of trade in services is an important measure to promote economic transformation and high-quality improvement and development.
A reporter for the “Daily Economic News” examined and found that despite the impact of the epidemic, although the scale of China’s services trade declined in the first seven months of this year, the trade deficit has decreased significantly and the share of Knowledge-intensive services trade has increased.
According to statistics from the Ministry of Commerce, the growth rate of services exports in July went from negative to positive. In July, the export of our services was 172.5 billion yuan, an increase of 3.3%. Among them, exports of cultural services and personal entertainment were 1.04 billion yuan, an increase of 65.8%; transportation exports were 34.46 billion yuan, an increase of 26.9%; exports of telecommunications, computer and information services were 45.41 billion yuan, an increase of 24.3%; financial services exports were 2.22 billion yuan, an increase of 20.3% year-on-year.
The services trade deficit has been reduced substantially. According to statistics, from January to July, the decline in China’s service exports slowed and the decline in imports increased. The decrease in exports was 21.4 percentage points less than that of imports. This led to a 49.4% decrease in the services trade deficit to 448.77 billion yuan, a year-on-year decrease of 438.35 billion yuan.
Xian Guoyi, director of the Department of Trade in Services and Commercial Services of the Ministry of Commerce, said that at present, our country’s economy has entered an era in which the service industry is the main pillar and the demand for services it is very strong. Reflected in the field of trade in services, that is, imports of services have grown relatively fast. There was a relatively large deficit in previous years. Despite the deficit, our stance on expanding service imports and our determination to open up trade in services remain unchanged.
In addition, Xian Guoyi also revealed that regarding the negative list of cross-border services trade, this year’s government work report has proposed to introduce a negative list of cross-border services trade, which is an important exploration of China’s promotion institutional opening in the service sector. Currently, the Ministry of Commerce is working with the relevant departments to study and formulate this list, which will be released before the end of the year.
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