Business     

Beijing forum discusses service sector

China.org.cn, May 30, 2013

• "WTO and China: Beijing International Forum," one of the sub-forums of the 2013 China (Beijing) International Fair for Trade in Services (CIFTIS), kicked off on Tuesday at the China National Convention Center in Beijing. Over 350 participants, including government officials, foreign ambassadors, business executives as well as academics from across the world, attended the forum.

  The forum, jointly hosted by the China Society for World Trade Organization Studies (CWTO) and the Beijing International Trade in Services Affairs Center, was themed "Development driven by services," and covered two panel discussions where attendees discussed topics concerning the relationship between producer services and both general development as well as global value chains.

  Sun Zhenyu, president of the China Society for World Trade Organization (WTO) Studies and China's first Ambassador to the WTO; Supachai Panitchpakdi, secretary-general of the United Nations Conference on Trade and Development (UNCTAD); and Chen Gang, Standing Committee Member of the CPC Beijing Municipal Committee, all spoke during the forum's opening ceremony.

  Sun Zhenyu said that a healthy and fast-growing service industry is vital to China's scientific development program. He also added that the structure of China's trade in services is being perfected -- the export of new services, namely that of information, financial, advertising and consultation, is on a rapid increase, which in turn has accelerated China's economic restructuring and transformation of economic growth.

  "Trade in services will be a new platform for China to participate in international business cooperation and the Chinese government will lay out new policies to boost China's service industry," said Sun.

  In its 12th Five Year Plan (2011-2015), China explicitly states it will promote the development of its service industry. However, the service industry is still restricted by many external factors. Several of the forum's attendees pointed out some crucial factors which have had a negative impact on China's service industry.

  "Monopolies of state-owned enterprises seriously hamper the development of China's producer services," said Xia Jiechang, a researcher from the National Academy of Economic Strategy with the Chinese Academy of Social Sciences.

  Further reform is necessary in China to break up those abovementioned monopolies. The government should create a fair and liberal commercial environment -- a prerequisite for the development of the service industry.

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