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E-mail China.org.cn, February 20, 2025
China Financial and Economic News:
As trade in services takes on an increasingly prominent role in international trade, could you outline the Ministry of Commerce's efforts to promote its high-quality development? What future plans and measures are being considered? Thank you.
Li Yongjie:
Thank you. I'll ask my colleague, Mr. Meng, to address this question.
Meng Yue:
Thank you for your question. In recent years, China's trade in services has developed rapidly, with steadily expanding trade volume, continuous structural optimization, and strengthening international competitiveness. From January to November last year, China's trade in services maintained strong growth momentum, with total imports and exports reaching 6.7 trillion yuan, up 14.2% year on year. Exports rose by 17.2%, while imports grew by 12.2%. Total service trade volume for the year is expected to exceed $1 trillion for the first time.
In August last year, the State Council officially issued the Opinions on Promoting High-Quality Development of Trade in Services through High-Standard Opening Up, offering a comprehensive and systematic plan for developing trade in services under the new circumstances. Going forward, MOFCOM will implement the decisions of the CPC Central Committee and the State Council, promote the implementation of various policies and measures in the opinions, and boost trade in services through innovation in three key areas to foster high-quality development.
First, we will take innovative measures to enhance the level of institutional opening up. We will fully apply the negative list for cross-border trade in services and promote the opening up of cross-border trade in services in a phased and orderly manner. We will proactively align with high international standards for economics and trade, and promote the consistency and compatibility of rules, regulations, management practices and standards in the service trade sector. We will launch the construction of national demonstration zones for the innovative development of trade in services and create a number of demonstration platforms for comprehensive reform and opening up in the service trade sector. We will implement an action plan for trade in services standardization to improve the level of standardization in trade in services.
Second, we will take innovative measures to enhance new business forms and models. We will adapt to the digital and green development trends in trade in services and actively cultivate new drivers of growth in trade in services. We will support professional service organizations, such as those in finance, consulting, design, and certification and accreditation, to enhance their capacity to provide international services. We will develop green technology trade and green trade in services. We will innovate the "bonded+trade in services" regulatory model to promote the integrated development of trade in services and trade in goods.
Third, we will take innovative measures to enhance international cooperation mechanisms. We will further expand multilateral, bilateral and regional cooperation mechanisms for trade in services and digital trade. We will continue to leverage the role of major exhibition platforms such as the China International Fair for Trade in Services. We will support qualified regions in building international cooperation parks for trade in services and continuously optimize the environment for opening up and cooperation. Thank you.
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