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China Trade in Services Ranks Top 2 in the World

Isabelle Durant, Deputy Secretary-General of United Nations Conference on Trade and Development (UNCTAD) gave a speech at the Global Trade in Services Summit of the 5th CIFTIS, she expressed, and the opening-up of the service industry will introduce competition into this country, which may lead to the loss of employment opportunities. To overcome these challenges, we must fully recognize the need to build national regulatory and institutional capacity as well as service liberalization measures. We need to reform our regulatory policies and systems to create a favorable business environment. When countries open services industry to the world, they need to design and implement the corresponding regulatory and institutional framework according to its own national conditions, so as to minimize the negative effects brought by the opening-up of service sectors. In the meantime, it is necessary to adopt relevant social policy to help those unemployed due to the opening-up of service industry, and enable them to make a living.