2024-09-15 04:22:35
At this year’s China International Trade Fair for Services (CIFTIS), many high-tech products allowed people to experience first-hand the fascination of modern technology. Trade in services is now increasingly becoming a key driver of global economic growth. The World Trade Organization expects the share of trade in services in international trade to increase from the current 22% to over 33% by 2040, according to Radio China.
That’s why this year’s China Services Trade Fair attracted more than 450 of the world’s top 500 companies and industry leaders from 85 countries. According to China’s Ministry of Commerce, China’s total service import and export volume in 2023 will reach 6.58 trillion yuan, a record scale and among the leading countries in the world. Among them, the share of trade in high-tech services increased to 41.4%. This shows that the competitiveness of Chinese companies continues to grow, and the national economy’s ability to innovate has increased significantly. This is also an important reason why the fair has attracted many Chinese and foreign exhibitors to participate. Currently, the opening up of China’s service industry has led to the launch of more than 1,300 pilot initiatives in 13 sectors such as science and technology, telecommunications, cultural tourism and finance. This year’s fair has allowed the world to see more new forces, China’s determination to promote the high-quality development of the service sector with a high level of openness and vitality, and the vast opportunities of Chinese-style modernization.