Beijing, September 03, 2024, The Europe Today: The State Council of China has introduced a comprehensive set of guidelines aimed at fostering high-quality development in the nation’s trade in services. This strategic move is part of China’s broader effort to enhance its global economic standing through high-standard opening up.
The newly unveiled guidelines outline 20 key tasks across five major areas, with a strong focus on accelerating the digital, intelligent, and green transformation of the trade in services sector. These initiatives are expected to significantly expand the scale, optimize the structure, improve efficiency, and bolster the strength of the sector, contributing to the building of a higher-level open economy in China.
One of the central objectives of the guidelines is to promote the institutional opening up of trade in services. This includes the full development of a management system based on a negative list for cross-border trade in services, alongside efforts to raise the standardization of service trade practices.
Additionally, the guidelines emphasize the importance of facilitating the cross-border flow of production factors and driving innovative development in key areas such as international transportation, tourism, and financial services. The initiative also underscores the need to expand China’s international market reach and deepen global cooperation in the trade in services sector.
To support these goals, the guidelines call for the enhancement of innovative policies and measures within the country. The overarching aim is to create a development environment that promotes openness, innovation, fair competition, and order in the trade in services sector.
This new policy framework represents a significant step forward in China’s ongoing efforts to align its trade in services with the highest international standards, ensuring its continued growth and integration into the global economy.
