On September 4, the audience visited the cultural display activities of the countries along the "Belt and Road" at the 2022 China International Fair for Trade in Services. Photo by Xinhua News Agency reporter Hao Zhao
Xinhua News Agency, Beijing, September 5 Title: The Service Trade Fair witnesses the strong attraction of the Chinese market for foreign investment
Xinhua News Agency reporters Ma Xinran, Luo Xin and Zhao Xu
"The athletes of the Beijing Winter Olympics are also part of our strength." In the sports service special exhibition area of the 2022 China International Fair for Trade in Services, Shen Yumei, marketing director of China Ofia Ice Group, said that in the past decade, China's ice and snow service market has been the fastest growing of the company's global business, and it is the most optimistic in the future.
Long-term optimism about the Chinese market is not only the firm confidence of Tianbing Group for many years, but also the investment choice of many international enterprises at this service trade fair.
KPMG signed a cooperation agreement with the Department of Commerce of Jilin Province and the Bureau of Commerce of Jinan City, Shandong Province; Amazon Cloud Technology announced the establishment of a number of digital empowerment centers in Tianjin and Zhongshan, Guangdong Province... More and more foreign investors are actively expanding their business layout in China, and promoting the deepening of cross-enterprise, cross-regional and cross-border service trade cooperation.
From a set of service trade fair data, we can perceive the "heat" of foreign investors' market in China: 71 countries and international organizations have set up exhibitions, more than 7,000 domestic and foreign enterprises participate in online and offline exhibitions, and the overall internationalization rate has reached 20.8%.
According to data released by China's Ministry of Commerce in August, from January to July this year, the actual use of foreign capital in China's service industry was 598.92 billion yuan, an increase of 10% year-on-year on a comparable basis.
"China's service industry is setting off a 'magnet effect' in the world." Ouyang Rihui, vice president of the China Internet Economy Research Institute of the Central University of Finance and Economics, said.
On September 5th, the audience visited the China Service Trade Achievement Exhibition at the National Convention Center of the Service Trade Fair. Photo by Xinhua News Agency reporter Hao Zhao
At present, China's economy has entered a stage of high-quality development, the industrial structure has been continuously optimized, and the service industry has become a new growth point of the economy, which is the inevitable result of continuously meeting the people's growing needs for a better life. Whether it is the upgrading of manufacturing industry or the upgrading of consumption, it contains huge service potential, making China's service industry a "strong magnetic field" to attract foreign investment.
In today's China, in this large market with a per capita GDP of more than 1.4 billion people exceeding the $10,000 mark, demand for medical care, law, education, finance, logistics, telecommunications and so on continues to emerge, and the consumption form has accelerated from physical consumption to service consumption.
The strong attraction of China's service industry is brought about by the huge consumer demand of the Chinese market.
At this year's service trade fair, Air China Co., Ltd. and Rolls-Royce jointly announced the establishment of Chinese mainland first Trent series civil aircraft engine joint venture maintenance company in Beijing, with a registered capital of 190 million US dollars, which will provide high-level engine maintenance services to customers in China and around the world.
In recent years, China's manufacturing has accelerated its move towards the middle and high end of the value chain, which has put forward higher requirements for the deep integration of manufacturing and service industries, which is the driving force for Luoluo's continuous expansion in the field of investment in China.
In addition to Luo Luo, which has been deeply involved in the Chinese market for more than 50 years, there are many "new friends" at the service trade fair who are continuing to make efforts to various high-end high-value service trade links in China.
"Although it is the first time to participate in the exhibition, I am very optimistic about the development prospects of cooperation with China." Cao Qian, a government affairs manager at Italy's Deanrui Law Firm, said that last year the company set up an office in Beijing, and this year it added offices in Shenzhen and Hong Kong, "hoping to find more cooperation opportunities through the service trade fair, and at the same time help the development of China's high-end legal service industry."
The strong attraction of China's service industry is not only driven by demand, but also the investment stickiness released by the policy dividend of high-level opening up.
Revised the negative list of foreign investment access for five consecutive years, implemented the Regional Comprehensive Economic Partnership Agreement (RCEP) with high quality, and continued to promote accession to the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) and the Digital Economy Partnership Agreement (DEPA) ... China has taken the initiative to benchmark high standards of international trade rules, promote a higher level of facilitation of trade in services, and create a first-class business environment for foreign investment.
In the past 10 years, the "circle of friends" of China's service industry has been expanding, and there have been service trade exchanges with more than 200 countries and regions in the world, creating about 18 million jobs for global service trade partners.
In 2021, China's service trade with brics totaled US$17.7 billion, and with countries and regions along the Belt and Road, totaling US$112.65 billion.
On September 4th, at the special exhibition of cultural tourism services in Shougang Park of the Service Trade Fair, children were experiencing VR. Photo by Ju Huanzong, Xinhua News Agency
The strong attraction of China's service industry is due to the remarkable achievements and broad prospects of digital China construction.
According to the Digital China Development Report (2021), China has now built the world's largest and technologically advanced network infrastructure; From 2017 to 2021, the scale of the digital economy will increase from 27.2 trillion yuan to 45.5 trillion yuan, ranking second in the world in total.
From intelligent express delivery cars, high-fidelity virtual makeup test services, to the "cloud showroom" built in 33 countries such as the Netherlands, Austria and Portugal... The "black technology" that can be seen everywhere in the exhibition area reflects the fiery pulse of the development of China's digital service market and has become a new hot spot for foreign investment.
Qualcomm, which has developed in China for more than 25 years and participated in the service trade fair for three consecutive times, has brought the application scenario of "Worker Meta universe" that combines Qualcomm's separation rendering technology and China Mobile's 5G private network slicing technology.
The reporter found that just by wearing a lightweight headset device, he could play with the virtual football striker in the digital world, the picture quality was clear, and the whole process was not aware of the delay and stuttering.
"We have formed an in-depth cooperative relationship with our Chinese industrial partners." Hou Mingjuan, global vice president of Qualcomm, said that China's insistence on promoting high-quality development with a high level of openness gives multinational companies such as Qualcomm the confidence to continue to further expand cooperation with Chinese customers.
From 2012 to 2021, the actual utilization of foreign capital in China's service industry increased from US$60.27 billion to US$140.51 billion, an increase of 1.3 times.
According to the "China Service Import Report 2020" compiled by the Ministry of Commerce of China, the cumulative scale of China's service imports is expected to reach US$2.5 trillion in the next five years.
In the context of the current ups and downs of the global epidemic and the fragile and weak recovery of the world economy, the holding of the China Service Trade Fair, as the Secretary-General of the United Nations Conference on Trade and Development, Alan, said, "is just in time". (Contributor: Chen Xu)