Since the dawn of the new century, the trend of economic globalization has been continuously accelerating. The world has entered the age of the service economy, and service innovation has become an important source of added value. The trend of manufacturing moving into services is ever more obvious, and the trade in services has become a new force in the fusion of industries.
In recent years constraints on resources and energy for China's economic development have become all the more severely felt, and a transformation in the mode of economic development and industrial restructuring has become important themes in China. Speeding up the development of the service industry is the main direction of task in transforming China's mode of development and restructure its economy. This is an prerequisite for the continued improvement of the quality of life of urban and rural residents. China, and the world as a whole, needs to build a comprehensive platform for the trade in services. This is the context in which CIFTIS arises at the historic moment, which will shoulder the mission of advancing the service industry and the trade in services.
CIFTIS is the first comprehensive platform specializing in the trade in services around the world. Hosted by the Ministry of Commerce of the People’s Republic of China and the People's Government of Beijing Municipality, it will be permanently based in Beijing. The World Trade Organization, the United Nations Conference on Trade and Development and the Organization for Economic Cooperation and Development are permanent supporters. Defined as a state-level, international and comprehensive fair for trade in services, the CIFTIS currently figures as the only comprehensive trading platform in the world covering the 12 sectors of trade in services defined by the WTO, namely, business services, communication services, construction and related engineering services, distribution services, educational services, environmental services, financial services, health and social services, tourism and travel-related services, recreational, cultural and sports services, transport services and other services.