China aims for high-standard international trade

China will further align itself with high-standard international trade and economic rules to bolster digital trade and advance high-level opening-up, said senior government officials on Saturday.

Speaking during a sub-forum at the ongoing 2023 China International Fair for Trade in Services in Beijing, Chen Chunjiang, assistant minister of commerce, said China is committed to participating in the World Trade Organization's negotiations on e-commerce, upholding and improving the multilateral digital economic governance system.

"China will engage in bilateral and regional dialogues, and expand cooperation in digital trade to contribute to global economic growth," said Chen, adding that these efforts are aimed at harnessing new opportunities in digital trade and sharing them with the world.

Digital trade refers to commerce enabled by electronic means – by information and communication technology services – and covers trade in both goods and services, according to the Organization for Economic Cooperation and Development, or OECD, an intergovernmental group comprised of 38 member countries.

China will also focus on strengthening rule alignment and high-quality implementation of the Regional Comprehensive Economic Partnership pact, advancing its accession to the Digital Economy Partnership Agreement, and progressing in the process of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, said Chen.

To enhance China's growth potential in the digital trade sector, Zhao Zhiguo, chief engineer at the Ministry of Industry and Information Technology, said the government will accelerate the industrialization pace of the digital sector, as well as nurture and strengthen digital industries such as cloud computing, big data, artificial intelligence, blockchain, virtual reality and industrial software.