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Innovative development of service trade to optimize the opening pattern

Release time: 2020-11-03

Number of visits: 135

Innovative development of service trade to optimize the opening pattern

  Recently, the executive meeting of the State Council deployed to further expand the work of opening up, stabilizing foreign trade, and stabilizing foreign investment. It proposed that service trade should play a role in stabilizing foreign trade and foreign investment. It will deepen the pilot service trade innovation development, and combine regional development strategies to expand the service trade innovation development pilot program to the whole country 21 In some provinces and regions, exploring reforms to expand open areas and improve convenience, including developing cross-border commercial medical insurance, promoting Sino-foreign cooperation in running schools, expanding the scope of qualifications for technology import and export operators, and strengthening international cooperation in tourism and sports under normalized prevention and control Etc., to promote a higher level of opening up.

  "High-quality economic development is reflected in the service trade to a considerable extent. The development of service trade is an important measure to promote economic transformation and upgrading and high-quality development. The economic development in China has changed from labor-intensive, large-scale to technology, service, and standard. In the process, service trade has played a leading role. The pilot service trade innovation and development is conducive to driving the high-quality development of China’s service trade." Li Guanghui, member of the Expert Committee of the China Council for the Promotion of International Trade and Chief Expert of the China Free Trade Zone Institute of Strategy, University of International Business and Economics In an interview with a reporter from China Trade News, he said that first, expanding the pilot service trade innovation development can explore a service trade innovation development path that suits China’s national conditions; secondly, it is conducive to driving the innovation of new business formats such as e-commerce and big data. And the service industry development model innovation; then, it can cultivate regional growth poles, and play an important role in promoting local economic development and cultivating new service trade growth poles.

  “The deepening of the service trade innovation and development pilot program is in line with China’s gradual opening-up path, that is, to try first and sum up the experience of copying.” said Luo Libin, a visiting researcher at the Institute of Service Economics and Public Policy at Tsinghua University and deputy dean of the School of Economics at Beijing International Studies University The opening up of the service industry, the rapid development of service trade, and the increase in its share have all conformed to the new trend of China’s economic development. At this stage, the development of service trade is important for improving the competitiveness of China’s service industry, consolidating the competitiveness of the manufacturing industry, and giving play to the impact of the domestic large market. The gravitational effects of international production factors are of great significance.

  Liu Xiangdong, associate researcher of the Economic Research Department of the China Center for International Economic Exchange, believes that the service trade innovation and development pilot program will be implemented first and then gradually extended to the whole country. On the one hand, it can prevent and control risks and help avoid a one-size-fits-all approach. On the other hand, local governments can be encouraged to adopt innovative approaches to stimulate the vitality of local economic development, which is more conducive to each region's unique advantages and to identify innovative development ideas for service trade.

  It is understood that in 2016, the State Council approved the launch of service trade innovation development pilots in 15 regions including Shanghai and Hainan. In June 2018, the State Council approved the deepening of the pilot program and expanded it to 17 areas including Beijing and Xiongan New District.

  Li Chunding, director and professor of the Institute of International Economics of China Agricultural University, said that the two rounds of service trade innovation and development pilots from 2016 to 2018 and 2018 to 2020 have promoted the development of my country’s service trade and brought to the development of my country’s service trade. Many new changes have been made. First, by expanding the opening up of service trade and improving the level of trade facilitation, the accelerated growth of service trade has been promoted. Since 2016, the growth rate of my country's service trade exports is not only faster than the international average, but also faster than the growth rate of goods trade exports. Second, the competitiveness of service trade has been improved, and the service trade deficit has dropped significantly. Third, it has promoted the upgrading of the service industry and the quality of service trade. Knowledge-intensive service trade with high added value and high technology has grown rapidly. Fourth, deepening the opening up of service trade and promoting the establishment of a new pattern of service trade opening up.

  According to data from the Ministry of Commerce, in 2019, the import and export of services in the pilot regions for the innovative development of service trade accounted for more than 75% of the country's total, and the growth rate was faster than the national average. Driven by the pilot areas, the total value of imports and exports of services nationwide increased from US$654.2 billion in 2015 to US$785.0 billion in 2019, an average annual growth of 4.7%. At the same time, service trade innovation pilots have facilitated the rapid growth of new formats and new models of high-growth and high-value-added service trade, and the transformation and upgrading of industries and trade has been further accelerated. Statistics show that in the first five months of this year, my country's total import and export of knowledge-intensive services reached US$115.31 billion, a year-on-year increase of 4.7%, and the proportion of total services import and export increased to 43.3%.

  Talking about the role of deepening the innovation and development of service trade in stabilizing foreign trade and foreign investment, Li Chunding said that service trade is an important part of my country’s foreign trade. Although its proportion is far lower than that of goods trade, its future growth space is huge. The pilot service trade innovation development is conducive to stabilizing foreign trade. At the same time, expanding the opening up of the service industry and system innovation will help attract the inflow of foreign investment in the service industry and stabilize foreign investment. In addition, traditional service industries such as tourism and transportation are industries and sectors that have been greatly affected by the epidemic. Deepening the innovative development of pilot projects will benefit the growth of service trade.

  Luo Libin believes that the service trade innovation and development pilot projects are constantly expanding from geographical scope to open areas. On the one hand, it provides more opportunities for foreign companies in the service industry. On the other hand, it also shows my country’s determination to promote a higher level of opening to the outside world and provide more opportunities for foreign companies. The determined expectations will help stabilize foreign trade and foreign investment.

  In Liu Xiangdong’s view, the scope and extent of opening up in the service industry in the pilot areas and pilot free trade zones are both ahead of the country. Through first-hand trials, positive results have been achieved and then expanded to other areas, and then up to China’s opening-up measures, such as Trade agreement (FTA) negotiations are paying more and more attention to the opening up of the service industry. Pilot free trade zones and pilot areas are the test grounds for China to explore the opening up of the service industry. The positive results of the pilots can provide experience for multilateral and bilateral negotiations and encourage China to establish high The standard free trade zone network, which forms an integrated service trade and market in multilateral and bilateral negotiations, is also conducive to optimizing China's new pattern of opening up.