The 2024 CIFTIS: New quality productive forces as a new driver

Editor's note: Liu Chunsheng, a special commentator on current affairs for CGTN, is an associate professor at the Beijing-based Central University of Finance and Economics. The article reflects the author's opinions and not necessarily the views of CGTN.

The 2024 China International Fair for Trade in Services (CIFTIS), themed "Global Services, Mutual Benefit and Sharing," is set to take place in Beijing from September 12 to 16. With "new quality productive forces" as a highlight, this year's event will focus on openness, innovation, and integration, especially showcasing the latest advancements in digitization, intelligence, and green development.

The fair not only displays new achievements in regional cooperation but also presents emerging industries like artificial intelligence (AI), metaverse technologies, and satellite internet through specialized and innovative content. These new quality productive forces are gradually transforming the development landscape of modern services, high-end manufacturing, and modern agriculture, becoming a significant driving force for economic transformation and upgrading.

The concept of new quality productive forces emphasizes significantly enhancing resource allocation efficiency and production efficacy through technological innovation, management innovation, and their mutual reinforcement.

Proposed at a critical juncture when the global economy faces challenges and transformation, particularly under the backdrop of rapid digital technology development, transitioning to new quality productive forces has become an inevitable choice for the development of multiple sectors, including services and manufacturing. Leveraging advanced information technology and intelligent applications, enterprises can more efficiently meet market demands, enhance customer experience, and achieve personalized and customized services.

In the realms of services and high-end manufacturing, the application of new quality productive forces provides numerous opportunities. With advancements in AI technology, traditional production and service models are undergoing profound transformations.

The exhibitions at CIFTIS will showcase how AI is revolutionizing traditional industries and promoting deep integration between manufacturing and services. For instance, in the transportation and logistics sector, the combination of AI and Internet of Things has enabled intelligent logistics scheduling, ensuring goods are delivered swiftly and securely. In this process, services, as an extension of manufacturing, become a crucial link, forming new business value chains.

Furthermore, the introduction of metaverse technologies is also transforming the operational models of traditional industries. Manufacturing enterprises can leverage virtual reality and augmented reality for product displays, interactive demonstrations, and training.

Through metaverse experiences, consumers can more intuitively understand product features, usage methods, and application scenarios in a virtual environment. This immersive experience not only enhances user engagement but also boosts product market competitiveness.

In the field of modern agriculture, the development of new quality productive forces is equally crucial. As a fundamental industry, agriculture needs to deeply integrate with new technologies to address growing population and environmental pressures. The combination of digital technology and modern agriculture is bringing revolutionary changes to traditional agriculture.

For example, using advanced equipment such as sensors and drones, farmers can monitor soil moisture, climate changes, and crop growth conditions in real-time, conduct scientific data analysis, and achieve precise fertilization, irrigation, and pest control. This digital transformation enhances the economic benefits of agricultural production, and reduces the burden on the environment to some extent, promoting sustainable agricultural development.

The recovery of the global economy relies on the growth of commodity trade, and needs to enhance competitiveness through the diversified development of service trade. With the continuous improvement of skills and professional services, the innovative development of service trade becomes particularly important.

These emerging technologies, especially the popularization of satellite internet and 5G technology, make global service trade more efficient and convenient. Through modern information technology, communication and cooperation between countries have become smoother, significantly increasing opportunities for business exchanges.

Particularly noteworthy is the rise of the green economy, which has prompted deeper cooperation among countries in areas such as environmental protection and renewable energy. For example, enterprises worldwide are collaborating in green technology and clean energy, including joint technology development and sharing of best practices, which will accelerate the global green transition process. This trend brings new vitality to the international economy and will also play a crucial role in the diversified development of service trade.

The successful hosting of CIFTIS 2024 will provide a platform for countries to showcase themselves and build a bridge for communication and cooperation among enterprises from various sectors globally.

Centered on the theme of new quality productive forces, participating enterprises, institutions, and professionals will share technological innovations and application achievements, jointly exploring how to advance the integration of service trade and traditional industries in the new global economic environment. In the future, the deep integration of services, manufacturing, and agriculture will provide new impetus for global economic recovery and sustainable growth.

The emergence of new quality productive forces has profound implications for the integrated development of services, high-end manufacturing, and modern agriculture. We look forward to witnessing how new technologies and models will provide continuous momentum for this process at the CIFTIS, contributing to the vigorous development of global service trade.

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