Beijing, September 22 (IANS). In this new era, services are also being traded. In this matter, China is showing the world a new path. It has started preparing to make its services business a better place at the global level. The organization of ‘China International Fair for Trade in Services’ i.e. CIFTIS is the result of this effort. It was organized in Beijing from 12 to 16 September. It was a big medium to display the innovation and development taking place in the service sector.
During this period, foreign exhibitors not only introduced their new products but also exchanged ideas in this context. Along with this, they also expressed hope for new collaborations and business in the Chinese market in the service sector.
The world famous company Nestle also participated in this event. The CEO of the company’s Greater China Zone, David Zhang, hopes that China’s service trade fair was very useful for it in better meeting the demands of Chinese consumers. This year’s theme was ‘Global Services, Shared Prosperity’. International organizations from 85 countries across the world participated in it. This exhibition covers twelve service sectors such as food, tourism, travel etc.
This time Kyrgyzstan made a lot of efforts to attract people for tourism. The officials there were seen explaining to the people how they can have a good holiday in Kyrgyzstan. Kyrgyzstan tried to attract people by showing its beautiful lake valleys, strolling around them, visiting the ancient Silk Road as well as the country’s rich cultural heritage, etc.
It is worth noting that China’s travel service trade has improved rapidly. This has given a great boost to international economic and trade cooperation. In the first half of the year, China’s travel service exports increased by 131.9 percent, while the import value of this sector increased by 41.5 percent year-on-year. Beijing also appeared to present its claim in CIFTIs. Here Mayor Yin Yong said that his city will continue to enhance tourism infrastructure and service quality. In July, Beijing introduced a special pass, which is a multi-purpose card for international tourists. Through this they can pay for transportation, tourist places and shopping centers. China’s annual travel service business has been more than 6.2 percent on average. It can be said that it is more than the global average growth rate.
Before the CIFTS, China had issued guidelines related to 20 important topics related to five aspects. Through this, it is expected to improve efficiency and strengthen the service business. The reason for this is that China’s service sector has started attracting people globally. Ajlan & Bros Holding Group, one of the largest enterprises of Saudi Arabia, participated in this fair for the third consecutive year. In this, it has displayed the development work done with its Chinese partners. The vice president of this company, Mohammed Al Ajlan, says that his company is strengthening the pace of development in various fields including China’s infrastructure, energy, green development and digital economy. Energy-saving smart pump products and technology were also displayed at the fair.
Royal Philips, a leading Netherlands-based healthcare technology company, also participated in the fair. It brought AI-based medical services and personal care products.
Many technologies that enable digital and green transformation were also showcased at this event. China’s innovations in these have helped boost the global economy. While this year’s event tried to highlight new quality productivity, there was also an emphasis on promoting mutual cooperation. It is expected that not only China, but also the global companies participating in this event have benefited from this.
It is worth noting that CIFTIS is the largest exhibition of the global trade sector in organized services. It covers 12 major sectors including transportation, travel, construction, insurance services, financial services, telecommunications, computer and information services, intellectual property royalties, personal, cultural and recreational services, maintenance and repair services, other business services, processing services. Some government services are also showcased in this event.
(Courtesy—China Media Group, Beijing)
–IANS
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