CIFTIS to promote 'global services'

The 2024 China International Fair for Trade in Services, or CIFTIS, to be held in Beijing from Sept 12 to 16, will feature higher-standard opening-up, improving quality and innovative driving force, the fair's organizers said.

The CIFTIS, a crucial platform for China to expand opening-up, deepen cooperation and pioneer innovation, will feature the theme of "global services, shared prosperity" this year, and preparations have been basically completed, the Ministry of Commerce said on Friday.

Highlighting its role as an open platform, this year's fair will see a high-level global trade in services summit and more than 100 forums and events, and authoritative reports will be released, the Commerce Ministry said.

"This year, more than 80 countries and international organizations will attend the fair. Among them, 13 countries and international organizations, including Portugal and the Food and Agriculture Organization of the United Nations, will set up on-site exhibitions independently for the first time," said Tang Wenhong, assistant minister of commerce.

France will be the country of honor for the first time at this year's CIFTIS. Sichuan and Hainan provinces will serve as the provinces of honor and hold a group of featured exhibitions and themed events, Tang said.

China is committed to providing new opportunities for global development through new achievements of Chinese modernization. Since its inception a decade ago, the CIFTIS has attracted more than 900,000 exhibitors and buyers.

This year, the Ministry of Commerce has rolled out national and pilot free trade zone versions of negative lists of cross-border trade in services. The State Council, China's Cabinet, has unveiled guidelines on promoting high-quality development of service consumption and trade in services, to boost higher-standard opening-up.

So far, more than 420 Fortune 500 companies and industry-leading firms have confirmed their on-site attendance. Thirty-seven local trade delegations, as well as trade delegations of State-owned companies and State-owned financial enterprises have been established, and more pragmatic achievements are expected to be realized.

An open environment and friendly services have effectively promoted economic and trade cooperation and personnel exchanges in Beijing. In the first seven months of this year, 1,095 foreign-funded enterprises were newly established in Beijing, up 19 percent year-on-year. Besides, Beijing's overall trade (imports and exports combined) was worth 2.1 trillion yuan ($295.8 billion), according to the local government.

"During the seven-month period, the number of inbound and outbound personnel at the ports of Beijing exceeded 10 million, surpassing the total number for the whole of 2023. All of those achievements have injected new vitality and momentum into the high-quality development of Beijing," said Sima Hong, vice-mayor of Beijing.

In addition, China has been reinforcing its innovation-driven development path and promoting integrated development of trade in services and high-end manufacturing.