CIFTIS boosts growth of innovative high-quality productive forces
Since its launch in 2012, CIFTIS has emerged as a symbol of China's commitment to high-level openness. It serves as a platform for participants to enhance communication and collaboration, collectively advancing openness and development while providing significant impetus for globalization and stable economic growth around the globe.
TroibNews 
Editor's note: Dong Yun is a director at the Research Center for International Political Economics at the National Institution for Finance & Development. The article reflects the author's opinions and not necessarily the views of CN.
The 2024 China International Fair for Trade in Services, themed "Global Services, Shared Prosperity," officially opened in Beijing on Thursday.
Since its launch in 2012, CIFTIS has symbolized China's commitment to high-level opening up, serving as a platform for participants to enhance communication and collaboration, while collectively advancing development and fostering globalization and steady economic growth around the world.
To achieve China's high-quality economic development, it is crucial to cultivate new industries, business models, and growth drivers, along with developing advanced, efficient, and high-quality productive forces.
This year's CIFTIS particularly emphasizes fostering innovative growth drivers and merging trade in services with advanced manufacturing in the context of a technological revolution, thus facilitating the development of new quality productive forces.
The exhibitions at this year's CIFTIS showcase groundbreaking technologies such as satellite internet, big data, computing power, and low-carbon technologies, as well as their applications in trade in services. Highlights include dual-lens cameras used in smart maintenance equipment, BeiDou high-precision positioning systems, wireless communication devices, and intelligent recognition algorithms. Additionally, the latest models of new energy vehicles and technological innovations from leading automotive brands are on display, illustrating the significant potential for trade in productive services to enhance the integration of secondary and tertiary sectors.
CIFTIS has introduced innovative service models and scenarios, including digital cultural tourism, smart education, and intelligent sports. Noteworthy examples are the use of virtual reality technology to explore the Great Wall or the Beijing Central Axis, as well as AI-guided Ba Duan Jin and various robotic performances. These innovations highlight the evolution of lifestyle-related trade in services and its role in boosting consumer demand.
Looking to the future, China's advancement of new quality productive forces will involve learning from the experiences of other countries while enhancing international exchanges and collaboration in fields such as science and technology, economy and trade, and industry.
To achieve this, China must further open its doors to the world, optimizing the use of both domestic and international markets to enhance the quality of its economic development and contribute to global economic growth.
China plans to enhance its systems and mechanisms for high-level opening up, creatively upgrade trade in services, align proactively with high-standard international economic and trade rules, and promote compatibility among regulations, standards, and management in the service sector.
The Chinese government also aims to expand its service market openings in a structured manner, improve the functionalities of open platforms in the service sector and its trade, and establish a world-class business environment that is market-oriented, law-based, and internationally standardized.
Frederick R Cook contributed to this report for TROIB News
The 2024 China International Fair for Trade in Services, themed "Global Services, Shared Prosperity," officially opened in Beijing on Thursday.
Since its launch in 2012, CIFTIS has symbolized China's commitment to high-level opening up, serving as a platform for participants to enhance communication and collaboration, while collectively advancing development and fostering globalization and steady economic growth around the world.
To achieve China's high-quality economic development, it is crucial to cultivate new industries, business models, and growth drivers, along with developing advanced, efficient, and high-quality productive forces.
This year's CIFTIS particularly emphasizes fostering innovative growth drivers and merging trade in services with advanced manufacturing in the context of a technological revolution, thus facilitating the development of new quality productive forces.
The exhibitions at this year's CIFTIS showcase groundbreaking technologies such as satellite internet, big data, computing power, and low-carbon technologies, as well as their applications in trade in services. Highlights include dual-lens cameras used in smart maintenance equipment, BeiDou high-precision positioning systems, wireless communication devices, and intelligent recognition algorithms. Additionally, the latest models of new energy vehicles and technological innovations from leading automotive brands are on display, illustrating the significant potential for trade in productive services to enhance the integration of secondary and tertiary sectors.
CIFTIS has introduced innovative service models and scenarios, including digital cultural tourism, smart education, and intelligent sports. Noteworthy examples are the use of virtual reality technology to explore the Great Wall or the Beijing Central Axis, as well as AI-guided Ba Duan Jin and various robotic performances. These innovations highlight the evolution of lifestyle-related trade in services and its role in boosting consumer demand.
Looking to the future, China's advancement of new quality productive forces will involve learning from the experiences of other countries while enhancing international exchanges and collaboration in fields such as science and technology, economy and trade, and industry.
To achieve this, China must further open its doors to the world, optimizing the use of both domestic and international markets to enhance the quality of its economic development and contribute to global economic growth.
China plans to enhance its systems and mechanisms for high-level opening up, creatively upgrade trade in services, align proactively with high-standard international economic and trade rules, and promote compatibility among regulations, standards, and management in the service sector.
The Chinese government also aims to expand its service market openings in a structured manner, improve the functionalities of open platforms in the service sector and its trade, and establish a world-class business environment that is market-oriented, law-based, and internationally standardized.
Frederick R Cook contributed to this report for TROIB News
