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China's Commitment to Openness in Services Trade Highlighted at 2023 CIFTIS

Chinese President Xi Jinping Vows to Foster Global Economic Recovery Through Cooperation and Innovation


Beijing, September 3, 2023 - The 2023 China International Fair for Trade in Services (CIFTIS) commenced in Beijing on September 2, showcasing China's unwavering commitment to opening up its services trade sector and its determination to support global economic recovery. Under the theme "openness leads development, cooperation creates a win-win future," the event brought together representatives from around the world to discuss and promote international trade in services.


Chinese President Xi Jinping delivered a video speech at the Global Trade in Services Summit of the 2023 CIFTIS, outlining China's vision for inclusive development, connectivity, integration, and innovation as key drivers for global economic recovery.


President Xi emphasized that China would make its development environment more open and inclusive by expanding its network of high-standard free trade areas, actively engaging in negotiations on the negative list for trade in services and investment, and opening up more in sectors such as telecommunications, tourism, law, and vocational examinations. These measures aim to align China's policies with high-standard international economic and trade rules.


China's State Council recently unveiled guidelines containing 24 specific measures to further optimize the country's foreign investment environment, encouraging foreign firms to undertake significant sci-tech projects and facilitating travel for senior executives and technicians.

With over 500 Global Fortune 500 companies and industry-leading enterprises participating, the internationalization rate of the 2023 CIFTIS reached 20 percent. The fair also attracted guests from 59 countries and 24 international organizations, showcasing China's growing role in global trade.


China has established service trade relations with nearly 240 countries and regions and has signed bilateral service trade cooperation agreements with 14 countries, demonstrating its commitment to international trade cooperation amid rising unilateralism and protectionism.

In his speech, President Xi highlighted the importance of innovation-driven development in the services trade sector. China plans to cultivate new drivers for the digitalization of services trade, implement pilot reforms for data systems, and promote digital trade through reform and innovation.


The digitalization of trade in services has seen significant growth in China, with a 12.3 percent year-on-year increase in digitally-delivered service trade in the first half of this year, surpassing the overall growth rate of total service trade.


President Xi concluded by calling on all parties to join hands in upholding free trade and the multilateral trading regime, seize the historic opportunities in global trade in services, and work together to create a brighter and more prosperous future for the world.


The 2023 CIFTIS serves as a testament to China's commitment to open and inclusive development in the services trade sector, fostering cooperation, and innovation to support global economic recovery.


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