Fair provides basis for going global

The China Beijing International Fair for Trade in Services is designed to build a solid platform for China and other countries to put their economic growth on a firmer footing via diversified models in service businesses, senior officials said.

Beijing Party Chief Guo Jinlong said that as the Beijing Fair focuses closely on serving the national strategies of the Collaborative Development of Beijing, Tianjin and Hebei Province and combines the social demands on the "internet plus" policy, domestic and global companies can benefit from introducing recognized brands, products and technologies into China's fast-growing services market.

During the fair, a section focused on mass entrepreneurship and another that concentrates on innovation and the transformation and upgrading of economic structures will represent implementations of the State Council's Opinions on Accelerating the Development of Trade in Services, which was issued last year.

"As many Chinese companies are keen to build their presence in overseas markets, certified public accountants, strategic planning, financial accounting, risk control and other services are definitely needed to support them to meet international standards in financial management and technical requirements," said Cheng Hong, deputy mayor of Beijing.

The fair this year will also focus on exhibiting new opportunities and new achievements in the service industry and service trade around the Belt and Road Initiative.

The Belt and Road Trade in Service Development Conference aims to discuss promoting service and trade businesses along the Silk Road Economic Belt and 21st Century Maritime Silk Road, which will cover about 4.4 billion people in more than 60 countries and regions in Asia, Africa and Europe.

Yan Ligang, director of the Beijing Commission of Commerce, said Beijing has already decided to give priority to the development of leading industries and promote industrial upgrading.

"This is the direction of Beijing's industrial remodeling and will guide the drive of the campaign nationwide, as China's economy is restructuring from one driven by investment to a consumption-driven approach," said Yan.

The latest data from the National Bureau of Statistics shows the added value of China's service sector expanded 7.6 percent in the first quarter of this year, 1.8 percentage points faster than the manufacturing sector, and now accounts for 56.9 percent of gross domestic product, 19.4 percentage points higher than the secondary sector.

zhongnan@chinadaily.com.cn