The 2022 China International Fair for Trade in Services－CIFTIS－has further highlighted its role as a key platform for innovative growth by advancing common development through high-level opening-up and facilitating global economic recovery, said government officials on Monday.
The grand event, which concluded on Monday in Beijing, saw 1,339 deals clinched, including 513 commercial transactions, 175 investment agreements and 173 releases of new product and service solutions, according to the fair's organizing committee.
Wang Shouwen, vice-minister of commerce, said the government will push the implementation of upgrading strategies in pilot free trade zones, support the growth of trade in services and provide foreign companies with greater transparency and certainty in the services field.
Ding Yong, head of the Beijing Municipal Commerce Bureau, said 128 forums and 65 business promotional activities had been held during the fair. More than 10,200 domestic and foreign companies participated in the event in both offline and online forms this year, exceeding the scale seen in 2021.
Covering an exhibition area of more than 15,200 square meters and focusing on nine themes, including financial, educational, healthcare and supply chain management services, the 2022 CIFTIS featured over 446 Fortune 500 companies and industry-leading enterprises, which had set up booths, said the event's organizer.
In particular, it was the first time that the fair featured an environmental service section, covering an area of 16,700 square meters and comprising five themed exhibitions on low-carbon energy, climate, carbon economy, carbon neutrality and green technology.
Pushed by fast-growing business sectors such as knowledge-intensive services and foreign culture trade, the value of China's trade in services jumped 20.7 percent year-on-year to 3.39 trillion yuan ($491.23 billion) in the first seven months of 2022, data from the commerce ministry showed.
Ann Derwin, ambassador of Ireland to China, said CIFTIS is a "bridge between China and the rest of the world".
Despite the challenges facing the global economy and a tough trading environment, the Chinese economy has shown strong resilience. The fair has played a positive role in China's continued promotion of global trade, and sent a positive signal to overseas companies interested in expanding their business in China, especially in the area of trade in services, she said.