Trade in services has become a new engine for the development of China’s foreign trade and a new impetus for deepening opening up. From 28th May to 1st June, the five-day 5th CIFTIS attracted nearly 100,000 professional guests from 122 countries and regions to participate in. All countries are optimistic for China’s trade in services market and international exhibitors seek new business opportunities for trade in services cooperation.
The following statistics highlight China’s “aggressiveness”: from 2012 to 2017, the annual average increase of China’s trade in services was 7.8% and the scale had ranked second in the world. The total export-import volume of China’s service industry in 2017 was 4.69911 trillion RMB, increasing by 6.8% over the same period. Among them, the total export volume of service industry had increased by 10.6%. Especially, the export volume of high value-added services such as telecommunication service, financial service and maintenance & repair service increased fast.
The organizing committee of CIFTIS said that the amount of overseas countries and regions holding exhibitions at the CIFTIS is record-breaking. There are 61 countries and regions organizing delegations to hold exhibitions, 27 countries and regions more than the 4th CIFTIS. As “Guest Country of Honor”, Brazil delegation led by six ministers organized nearly 100 people to attend the exhibition.
The large Brazil delegation aims to jointly develop tourism resources with China. Minister of Ministry of Tourism of Brazil, Vinícius Lummertz said that currently they are promoting tourism cooperation and development projects valued over 4.5 billion dollars in total. In addition, they will promote to implement more measures and policies. He hopes that through this CIFTIS, it can attract Chinese tourists and investors to choose Brazil.
Besides Brazil, Bahamas also promotes tourism at the CIFTIS. It welcomes Chinese tourists to “have a visit” and Chinese enterprises to invest resorts and hotels. In addition, India which has many world heritage monuments and building ruins, hopes to attract Chinese investors via various tourism patterns such as ecology, village and exploration.
Besides tourism, some countries also focus on promoting medical care and education and so on. Russia makes on-site promotions on economy & trade and cultural cooperation projects, signing 9 contracts of intention with China. The contracts valued about 3 billion RMB cover medical care, education and more domains, including cooperatively building Sino-Russia the “Belt and Road” “The Window of Beijing”, preparing to establish Sino-Russia Bai-Se Aluminum Industry Technological Cooperation Base and Qingdao University International Admissions Cooperation Project.
For France, gathering high-skilled talents is one of core competencies to attract Chinese investments currently. Investment counsellor of Business French Embassy in China, Florent Mangin said at the CIFTIS that China is one of the Asian countries with the largest investments in France at present. For part of the Chinese investors, investment is an important measure to build up a talents exchange channel between Europe and China. “French government has introduced corresponding incentives for establishing investment research & development center and innovative enterprises.”
Director of Trade and Investment Department of Uruguay Embassy in China, Federico Lage said that the year 2018 is the 30th anniversary of the establishment of diplomatic relations between Uruguay and China. He hopes that the two countries can have more cooperation on trade in services. Taking information and communication technology domain as an example, it is hoped that there are Chinese enterprises intending to be cooperative customers of Uruguay’s data center which is used for managing the business in Latin America.
It is notable that there were 46 countries and regions along the “Belt and Road” attending this CIFTIS. Thailand which is pushing forward its “Economic development model 4.0” seeks investment in fields of economy, finance and medical care.
In addition, many countries including America, Italy, the Philippines, Switzerland and Ecuador made promotions at CIFTIS. The organizing committee notes that after the previous five fairs, CIFTIS has become a global fair with the largest scale in trade in services. At present, there is a new development opportunity for trade in services. China will actively promote both “Service from China” and “Made in China” to be core competencies of opening-up economy.