BEIJING/SHANGHAI, China: In a significant address during the China International Fair for Trade in Services (CIFTIS), President Xi Jinping unveiled a series of far-reaching measures aimed at enhancing market access in the service industry and fostering cross-border services trade.
Delivered via video from Beijing, Xi’s speech outlined a multifaceted strategy designed to invigorate the domestic market, bolster the importation of high-quality services, and revamp the nation’s foundational data infrastructure.
This announcement comes at a pivotal moment as China has experienced a dip in its trade activity over recent months, driven by subdued demand that poses potential challenges to the nation’s economic recovery. Recognizing these obstacles, China’s leadership has embarked on a course of action that prioritizes the provision of comprehensive policy support.
One of the cornerstones of President Xi’s plan is to stimulate the integrated development of high-end manufacturing and modern service industries. This strategic alignment is set to reinforce China’s economic resilience, facilitate innovation, and position the nation as a global leader in both manufacturing and services.
