CIFTIS 2024: Exploring Opportunities in China's Services Market for Global Players
The 2024 edition of the China International Fair for Trade in Services (CIFTIS) commenced in Beijing on Thursday, showcasing China's dedication to enhancing openness and fostering deeper collaboration in the global services trade sector.
TroibNews 
The 2024 edition of the China International Fair for Trade in Services (CIFTIS) commenced in Beijing on Thursday, emphasizing China's dedication to enhanced openness and strengthened cooperation in the global services trade sector.
Under the theme "global services for mutual benefits," the five-day event showcases advanced technologies and innovative applications related to trade in services.
A key aspect of this year’s fair is the emphasis on developing new quality productivity forces, which highlights the nation's ongoing efforts towards high-end technology, efficient productivity, and premium products and services.
Exhibitors are illustrating how big data, zero-carbon technologies, and digital services propel the growth of services trade.
Attendees can immerse themselves in futuristic experiences through 3D displays and explore advancements in autonomous vehicles at the expo.
CIFTIS has seen considerable growth since it was first held in 2012.
Global businesses are uncovering new opportunities within China's expanding services market, with over 900,000 exhibitors and visitors from 197 countries participating in CIFTIS since its inception.
This year, 85 countries and international organizations are in attendance, featuring industry leaders such as Siemens, Google, Amazon, and GE Healthcare presenting their latest innovations.
Schneider Electric, returning for a fifth time, conveyed to Xinhua that the Chinese market is vibrant.
Xu Shaofeng, senior vice president of the French firm, noted that they plan to establish a China center for services to create tailored products and services to meet market demands.
The Chinese government is also championing innovation in services trade, with important developments recently marked by the rollout of the national and pilot free trade zone versions of the negative list for cross-border services trade in April. By streamlining entry measures, China has improved the transparency and predictability of its cross-border services trade management.
Earlier this month, the Chinese Ministry of Commerce, in collaboration with other departments, announced the pilot expansion of opening-up measures in the medical sector, permitting the establishment of wholly foreign-owned hospitals in cities like Beijing and Tianjin.
Despite global economic uncertainties, China’s services trade continues to flourish, driven by a focus on digitalization, intelligence, and green initiatives.
According to data from the National Statistics Bureau, the added value of China’s services industry rose by 4.6 percent year on year in the first half of 2024, making up 56.7 percent of its GDP.
Mathilde Moreau contributed to this report for TROIB News
Under the theme "global services for mutual benefits," the five-day event showcases advanced technologies and innovative applications related to trade in services.
A key aspect of this year’s fair is the emphasis on developing new quality productivity forces, which highlights the nation's ongoing efforts towards high-end technology, efficient productivity, and premium products and services.
Exhibitors are illustrating how big data, zero-carbon technologies, and digital services propel the growth of services trade.
Attendees can immerse themselves in futuristic experiences through 3D displays and explore advancements in autonomous vehicles at the expo.
CIFTIS has seen considerable growth since it was first held in 2012.
Global businesses are uncovering new opportunities within China's expanding services market, with over 900,000 exhibitors and visitors from 197 countries participating in CIFTIS since its inception.
This year, 85 countries and international organizations are in attendance, featuring industry leaders such as Siemens, Google, Amazon, and GE Healthcare presenting their latest innovations.
Schneider Electric, returning for a fifth time, conveyed to Xinhua that the Chinese market is vibrant.
Xu Shaofeng, senior vice president of the French firm, noted that they plan to establish a China center for services to create tailored products and services to meet market demands.
The Chinese government is also championing innovation in services trade, with important developments recently marked by the rollout of the national and pilot free trade zone versions of the negative list for cross-border services trade in April. By streamlining entry measures, China has improved the transparency and predictability of its cross-border services trade management.
Earlier this month, the Chinese Ministry of Commerce, in collaboration with other departments, announced the pilot expansion of opening-up measures in the medical sector, permitting the establishment of wholly foreign-owned hospitals in cities like Beijing and Tianjin.
Despite global economic uncertainties, China’s services trade continues to flourish, driven by a focus on digitalization, intelligence, and green initiatives.
According to data from the National Statistics Bureau, the added value of China’s services industry rose by 4.6 percent year on year in the first half of 2024, making up 56.7 percent of its GDP.
Mathilde Moreau contributed to this report for TROIB News
