China shares achievements with world for global economic recovery

Sharing achievements

Against the backdrop of international trade suffering a significant shock since the outbreak of COVID-19, China has adopted various measures to boost the opening-up of the services trade sector. These measures include implementing a negative list for cross-border services trade countrywide and exploring the development of national demonstration zones for the innovative development of trade in services. They also include scaling up support for services sector growth in the Belt and Road partner countries, among others, said Li Jun, director with the Institute of International Trade in Services under the MOC.

The CIFTIS is China's solution to connect with the international market and engage in international cooperation, which is of great significance to the rebound of trade in services and the recovery of the world economy, said Li.

China's online shopping giant JD.com has invested heavily in helping global sellers expand their market presence in China.

According to Gao Liqiang, vice-president of JD Group, an innovative supply chain of high-quality fresh aquatic products connecting ASEAN has been constructed to deliver fresh seafood from Southeast Asian countries onto the tables of Chinese consumers at a speed unimaginable years ago.

Liu Hui, director of the JD Research Institute for Consumption and Industrial Development, said the group established cooperation with over 90 percent of the 2021 Fortune 500 companies, seeking a deeper integration into the global industry chain with its digital capabilities and supply chain resources.

The 2021 CIFTIS also paid great attention to supporting the development of the services trade industry in Belt and Road countries and regions.

Zhai Dongsheng, director of the Belt and Road Initiative Center under the National Development and Reform Commission, shared some insightful episodes showcasing the shared benefit of the B&R.

In China, health services in frontier regions such as the Northwest Xinjiang Uygur autonomous region and the southern Guangxi Zhuang autonomous region are relatively underdeveloped compared with other parts of the country. But still, they have taken advantage of geographical advantages and remote internet service technology to provide medical and health services to patients in central and southeast Asian countries, with good economic and social benefits, according to Zhai.

Alfredo Rolando Grosman, president of the China-Peru Investment Development Association, said: "The CIFTIS is a great event for win-win cooperation between China and Belt and Road countries, for example, my country Peru. Many young Peruvian technological companies would benefit greatly from trade in services with fellow technology counterparts in China."