China’s service trade fair to highlight digital technologies

Firms included on the new blacklist will be banned from trading with China, Beijing says. Photo: Bloomberg. Sketched by the Pan Pacific Agency.

BEIJING, Aug 28, 2021, Xinhua. The China International Fair for Trade in Services (CIFTIS), which will open in Beijing next week, will highlight digital technologies and services, organizers said Friday, Xinhua reported.

Themed “toward digital future and service-driven development,” the trade fair will feature a special section for digital services for the first time, according to Yan Ligang, head of the Beijing Municipal Commerce Bureau.

Up to 33 well known enterprises and institutions will participate in the special section, and 15 conferences and forums will be held to discuss the digital economy and digital trade, Yan told a press conference.

“The COVID-19 pandemic has accelerated the digitalization of trade in services, thus providing opportunities for structural adjustment and the development of new service trade businesses,” said Wang Bingnan, China’s vice minister of commerce.

In 2020, China’s digitally deliverable trade in services stood at 294.76 billion U.S. dollars, up 8.4 percent year on year and accounting for 44.5 percent of the total service trade, official data showed.

More than 10,000 enterprises from 153 countries and regions have signed up for this year’s CIFTIS. Among them, 2,400 firms will showcase their products and services offline.

Up to 18 percent of offline exhibitors are Fortune 500 companies and leading enterprises, up 9 percentage points from last year, according to the organizers.

The 2021 CIFTIS will also have exhibitions on new topics such as healthcare services, business services, engineering consultancy and construction services, according to Yan.

A global summit on service trade, five summit forums as well as 119 thematic forums and conferences will be held on the sidelines.

Apart from a comprehensive exhibition at the China National Convention Center, this year’s CIFTIS will also have a thematic exhibition to take place in Shougang Park in Shijingshan District.

CIFTIS is a major platform for trade in services in China. This year, it is to be held from Sept. 2 to Sept. 7 and will have an exhibition area of 130,000 square meters.

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