On September 5th, China International Trade Fair for Services (CIFTIS) 2022 ended, technology full of “sense of the future” made an unforgettable impression on exhibitors and also brought new business opportunities for global enterprises.
This year’s service fair lasted six days and attracted offline participation from 507 industry leaders and Fortune 500 companies. It was the first time that ten countries, including the United Arab Emirates, Switzerland and Italy, held exhibitions on behalf of their countries. According to preliminary statistics, 1,339 achievements of various types were achieved at this fair, of which 173 were the achievements of early innovations such as the new generation of spectral computed tomography (CT) and the world’s first encrypted digital printing, which is an increase of 34 over the previous year and the largest on record increase.
Innovative technologies and products are taking the lead, showing that “innovation” is increasingly important in the service trade. According to data from the United Nations Conference on Trade and Development, the share of technology related to innovation and information services, intellectual property, research, development and design in global trade in services increased from 11.4 percent in 2005 to 18 percent in 2020.
As one of the most active areas of scientific and technological innovation, the digital economy has become a new engine of global economic growth. China’s digital economy industry has ranked second in the world for many consecutive years, bringing much-needed development impetus to the global economy and businesses. And the service fair is the “power unit”.
At Amazon’s pavilion in the themed exhibition area, people could sit in a smart cockpit, communicate with the car through an intelligent voice device and a touch monitor, and quickly find out road conditions, weather conditions and driving status through cloud computing. Science and technology support the digital transformation and also strengthen the technical base of “green” development.
At this service fair, people saw that “green” was cleverly put into various technological devices. From green finance to green travel, from a large earth to a thin piece of paper, all reflect the characteristics of “energy saving and low carbon emissions”. Amidst all this, the visualization project “Carbon Planet” developed by a Chinese company has attracted a lot of attention. The project uses algorithms to present carbon emissions on the digital Earth and intuitively displays carbon emissions in energy, transportation, industry, household consumption and other fields, providing more accurate information services and decision-making basis for scientific research institutions, parks or governments.
According to the estimates of relevant institutions, the world needs to invest more than 1 trillion US dollars to achieve the global greenhouse gas control targets set in the Paris Agreement, which brings rare development opportunities for energy saving, environmental protection and new energy industries. A representative of the research and development company “Carbon Planet” said he was looking forward to exploring the huge business opportunities of green development with global enterprises.
This year marks the tenth year of the service fair. Over the past ten years, China has acquired more than 200 service business partners. At a time when globalization runs into adverse currents and regional conflicts are frequent, the “circle of friends” of trade in services is expanding, not only because of the strong appeal of the Chinese market, but also because it is an important window through which China expands its opening to the world , deepening cooperation and leading innovation, reflecting China’s determination to firmly promote economic globalization. This is exactly what the world urgently needs.
China’s services trade imports and exports have grown at an average annual rate of 6.1 percent over the past decade, 3.1 percentage points higher than the global growth rate, according to Chinese official data. The scale of China’s trade in services has ranked second in the world for eight consecutive years, and cumulative imports of services have exceeded $4 trillion. In August this year, the Ministry of Commerce of China announced that it will support the introduction of the national version of the negative list of cross-border trade in services, expand the import and export of green and low-carbon technologies, and explore the possibility of building a national demonstration zone for the innovative development of trade in services. (Cl)