China’s central government will support Beijing in setting up a pilot free trade zone characterizing scientific and technological innovation, opening up of the services sector and the digital economy.
The decision was announced at the opening of the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing on Sept. 4th
Chinese President Xi Jinping said while addressing the CIFTIS Global Trade in Services Summit via video “We will support the municipality in developing a national integrated demonstration zone for greater openness in the services sector. It will enable Beijing to take bigger, bolder steps as a trailblazer and gain more experience that would be replicable and scalable,”
The new zone will serve as a platform of high-standard opening-up for the coordinated development of the Beijing-Tianjin-Hebei region, and open up new horizons for reform and opening-up at a higher level, Xi added.
CIFTIS is the first major international economic and trade event held both online and offline by China since the COVID-19 outbreak.
In his speech, Xi called for joint efforts to foster an open and inclusive environment for cooperation, saying the world is going through profound shifts unseen in a century and the COVID-19 pandemic is accelerating such changes.
The president said the services sector is unique as it is asset-light but heavy in soft factors of production.
He noted “We will continue to work on a negative list system for managing cross-border services trade” and “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.”
China will use CIFTIS and other platforms, such as the China International Import Expo, to promote policy exchange and experience-sharing, and foster diverse partnerships with foreign governments, international organizations, business associations and enterprises, Xi added.
“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.”
저작권자 ⓒ 동서경제신문, 무단 전재 및 재배포 금지