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CIFTIS attracted international exhibitors to Beijing in groups for new cooperative business opportunities

Service trade has evolved into a new engine in China's development of foreign trade and a new driving force to deepen China's opening up. From May 28 to June 1, the 5th CIFTIS of a five-day event attracted about 100 thousand professional foreign businessmen from 122 countries and regions to participate in the fair, in which international exhibitors sought new business opportunities in trade service cooperation since all countries expect a good prospect of China's trade in services market.

A group of figures highlight the "go-ahead determination" of China's trade in services: From 2012 to 2017, China's trade in services saw an average annual increase of 7.8% and has ranked the second in the world in its scale. China's service import and export amounted to RMB4.6991.1 trillion in 2017, marking a year-on-year increase of 6.8%.  Wherein, the service export increased by 10.6%, with the especially rapid export increase lying in high value-added services represented by telecommunication service, financial service, maintenance and repair service, etc.

CIFTIS Organizing Committee stated that a new record was created in the quantities of exhibitions and conferences organized by foreign countries and regions in this CIFTIS; wherein 61 countries and regions held exhibitions and conferences, an increase of 27 compared with that at the 4th CIFTIS; as the "guest of honor" of this CIFTIS, Brazil dispatched a delegation constituted by almost one hundred people and led by six ministerial level guests to attend the fair and conferences.

The huge Brazilian delegation came with a hope to jointly develop tourist resources with China. It was introduced by the Minister of the Ministry of Tourism of Brazil Vinícius Lummertz that the Ministry of Tourism of Brazil was advancing a tourism cooperation and development project totaling approximately more than USD4.5 billion, and would promote the implementation of more measures and polices, and hoped to promote Brazil as the destination of Chinese tourists and investors through this CIFTIS.

It was not only Brazil who promoted the tourism. At this CIFTIS, Bahamas hoped that Chinese tourists would "visit their country" and Chinese enterprises would invest vacation resorts and hotels, etc.; India, with numerous world heritages of monuments and building remains, hoped to attract Chinese investors through multiple tourism forms, such as ecology, village and exploration.

In addition to the tourism, medical care and education functioned as the highlights in the promotion of many countries. Russia conducted site promotion concerning the trade, economy and culture cooperation, and signed 9 preliminary agreements with China totaling about RMB3 billion, involving multiple fields such as medical care and education including the cooperative construction of China-Russia "Belt and Road" Window of Beijing, preparation and establishment of China-Russia Bai-Se Aluminum Technology Cooperation Base Project, and Qingdao University International Admission Cooperation Project, etc.

France took the aggregation of high-skilled talents as one of its current core competitiveness to attract Chinese investment. Florent Mangin, the Investment Counsellor of Business France at French Embassy in China expressed at the CIFTIS that currently China had become one of the Asian countries France has put in the most of its investment, some Chinese investment enterprises regarded investment as an important measure to pave the way to Europe and Chinese talents, and "French governments had issued corresponding preferential measures for the establishment of investment R&D center and innovative enterprises, etc."

Federico Lage, the Director of Trade and Investment Department of Uruguayan Embassy in China, stated that 2018 was the 30th anniversary for the establishment of diplomatic relations between Uruguay and China, hoped that both could develop more service trade cooperation, such as in the field of information communication and technology, and Chinese enterprises could become the cooperative clients of Uruguay Data Center and manage their Latin businesses with this center.

It is worth mentioning that 46 countries and regions along the "Belt and Road" participated in this CIFTIS. Thailand, currently in promotion of "4.0 Economic Development Model", hoped to seek investments in economy, finance, medical care and other fields.

In addition, many countries like the USA, Italy, Philippines, Switzerland and Ecuador, etc. conducted promotions in CIFTIS. The committee said that after five sessions, the CIFTIS had become a fair platform with the largest service trade scale in the world. At present, the trade in services is presented with new development opportunities, and China will initiatively advance "China Service" and "Made in China" to jointly constitute the core competition advantage of its open economy.