CIFTIS Sees Larger Number of Deals and Features Greater Internationalization
Date: 2022-09-12
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The 2022 China International Fair for Trade in Services (CIFTIS) closed in Beijing on September 5. This year's CIFTIS was successfully held as scheduled despite the COVID-19 pandemic and other adverse factors. With more exhibitors from both home and abroad, more deals closed, and more visitors than last year, the 2022 CIFTIS has provided a pragmatic cooperation platform and numerous market opportunities for all participants, adding new impetus to the recovery and development of global trade in services.

Co-organized by the Ministry of Commerce of China and the People's Government of Beijing Municipality, the 2022 CIFTIS was held in Beijing from August 31 to September 5. According to Ding Yong, Deputy Director of the Executive Committee of CIFTIS and Director General of the Beijing Municipal Commerce Bureau, this year's event, themed "Cooperate for Better Development, Innovate for a Greener Future", featured an exhibition area of 152,000 square meters where 128 forums and 65 business promotional activities were held. With the participation of over 7,800 companies online and more than 2,400 enterprises in-person, a total of more than 250,000 people attended the event, all exceeding the previous one.

Ding Yong said that the 2022 CIFTIS featured greater international engagement. It co-hosted the Global Trade in Services Summit with the United Nations Conference on Trade and Development. The Global Alliance for Trade in Services joined as a new international cooperation organization of CIFTIS. The number of participating countries and headquarters of international organizations increased by 13 compared with last year. Ten countries such as the United Arab Emirates and Switzerland set up booths in the name of the country for the first time. This year's CIFTIS saw 20.8% of the participants coming from overseas, including 27 out of 30 biggest trading countries and regions in services. CIFTIS has made more friends in the world.

"CIFTIS has propelled all parties to reach an important consensus on working together to overcome difficulties and promote global economic recovery," said Wang Zhihua, deputy director-general of the department of trade in services and commercial services at the Ministry of Commerce. The 2022 CIFTIS held 7 high-level summit forums and over 100 professional sessions and industrial conferences, bringing together government officials, experts, scholars, and industry professionals to exchange views on frontier fields, and contributing to the recovery and development of global trade and economy.

Wang Zhihua said that CIFTIS has demonstrated China's achievements in innovative development of trade in services and facilitated a series of important cooperation results. According to preliminary statistics, the 2022 CIFTIS saw the conclusion of 1,339 deals, including 513 commercial transactions, 175 investment agreements, 173 releases of new product and service solutions, 128 strategic agreements, and 82 authoritative release projects. There were 26 alliance platform categories and 242 selection and recommendation categories. A number of authoritative reports such as the 2021 Report on China's Development of Trade in Services and the 2021 Report on China's Development of Exhibition Industry have been released, reflecting development trends and displaying research results.

"CIFTIS has once again shown China's confidence and determination to promote high-level opening-up and contribute to the prosperity and development of the global trade in services," said Wang Zhihua. Going forward, China will promote high-level opening-up of trade in services, lead innovation-driven development, advance emerging trade in services such as R&D, testing, and artwork exhibition and trade in bonded areas, encourage the import of technologies and services for energy conservation, carbon reduction, and environmental protection, and expand the export of green and low-carbon technologies.

Wang Zhihua pointed out that China will deepen international cooperation, actively participate in the formulation of international rules and standards for trade in services, and create an enabling environment for international cooperation in trade in services. China will increase support for the service industry development in economies participating in the Belt and Road Initiative, improve the multilateral and bilateral cooperation mechanisms in trade in services with BRICS countries and the SCO (Shanghai Cooperation Organization), and keep expanding the international cooperation network of trade in services to enlarge the circle of friends.

(Reporters: Chen Hang, Du Yan)