$10t in trade in services to be imported

Companies see potential

Jens Eskelund, managing director of Maersk China Ltd, the world's largest container ship operator by fleet size, said the company sees significant future development potential in China's service trade sector. The country has sweepingly improved its logistics and transportation efficiency in the coastal provinces, he said.

"There is, however, still room to improve on efficiency and develop logistics infrastructure on many inland locations. This is not just to serve demand in inland provinces," he said.

"We will continue to invest in the landside business in the coming years in China," Eskelund said, adding that Maersk China started operating its first automated warehouse in China with a local partner in July and will build more such facilities across the country.

Norman Sze, managing partner of government affairs at Deloitte China, said the accounting and professional services company has found strong growth potential in China's service trade market, particularly in the areas of digital economy, urbanization and coordinated regional development.

"It is fairly practical for the government to encourage the country's fast-growing regions such as Guangdong-Hong Kong-Macao Greater Bay Area, the Yangtze River Delta region and the Beijing-Tianjin-Hebei region to collaborate and support the growth of modern trade in services", he said.