What are China's plans to boost the services sector?
80. What are China's plans to boost the services sector.mp3
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Countries need to forge greater synergy in growing their trade in services, seek new ways and more areas of cooperation, and look for the widest possible converging interests in development so as to make the "pie" bigger and bigger.
- Chinese President Xi Jinping
A review of human history shows that the world economy thrives in openness and withers in seclusion. The services sector is unique as it is asset-light but heavy in soft factors of production. As such, it requires, more than other sectors, an open, transparent, inclusive and non-discriminatory environment for businesses to grow. It calls for the concerted efforts of all countries to reduce border and behind-the-border barriers constraining the flow of production factors and promote cross-border connectivity. China will remain steadfast in opening up wider to the world. We will continue to work on a negative list system for managing cross-border services trade. We will develop open platforms for the pilot program of innovative development of the services sector. We will further ease market access for the services sector and will take greater initiative to increase imports of quality services. To meet the actual needs for growing trade in services, China will promote greater harmonization of rules for the services sector at the multilateral and regional levels, and work for continued improvement in global economic governance and more inclusive growth of the world economy.
We need to adapt to the trend towards digital-driven, internet-based and smart growth, jointly eliminate the "digital divide," and advance digitalization of trade in services. China will continue to build bases for featured services export and develop new business forms and models in services trade. China will work with other countries to enhance macro policy coordination, accelerate international cooperation in the digital sector, step up intellectual property protection, and facilitate the vibrant growth of the digital economy and sharing economy. Such efforts will generate renewed dynamism for the world economy.
In this age of economic globalization, countries share economic interdependency and intertwined interests like never before. To treat each other with sincerity and pursue shared benefits holds the key to state-to-state relations in today's world. Countries need to forge greater synergy in growing their trade in services, seek new ways and more areas of cooperation, and look for the widest possible converging interests in development so as to make the "pie" bigger and bigger. China will make full use of China International Fair for Trade in Services (CIFTIS) and other platforms such as the China International Import Expo (CIIE) to promote policy exchange and experience-sharing, and foster diverse partnerships with foreign governments, international organizations, business associations and enterprises. China supports the establishment of a global alliance for trade in services. We hope to see more fruits from our practical cooperation so that people in different countries will all benefit from a growing trade in services.
(Source: Extract from Xi Jinping's speech at the Global Trade in Services Summit of the 2020 China International Fair for Trade in Services, September 4, 2020.)