Xi makes proposals on service opening
By GT staff reporters Source: Global Times Published: 2020/9/4 22:21:53
China balances economy and epidemic control in first major exhibit since COVID-19
Chinese President Xi Jinping addresses the Global Trade in Services Summit of the 2020 China International Fair for Trade in Services (CIFTIS) via video on Friday. Photo: Xinhua
China will remain steadfast in opening up to the world, and continue to ease market entries for the services sector and expand imports of high-quality services, Chinese President Xi Jinping said on Friday.
He proposed to foster an open and inclusive environment for cooperation, unleash the power of innovation in driving cooperation forward, and work together to promote mutually beneficial cooperation, to promote global trade and the quick rebound of the global economy.
He spoke on Friday at the Global Trade in Services Summit of this year's China International Fair for Trade in Services (CIFTIS), the first major offline international trade fair in China following its effective containment of COVID-19.
"It is against such a backdrop that China decided to hold this important international trade event despite many difficulties in preparation," Xi said. "It shows China's willingness to join hands with all of you in this trying time, and work together to enable global trade in services to thrive, and the world economy to recover at an early date."
The fair not only shows China has effectively balanced its economic development with virus prevention measures, but also that China will continue its policy of opening-up and increase its role in global trade, which has been severely impacted by the virus, analysts said.
A staff member at the fair told the Global Times that all employees and volunteers must undergo nucleic acid tests for COVID-19. He added that spot checks will also be conducted from time to time during the exhibition, including body temperature tests.
Beijing-based AI firm Megvii Technology, known for its facial recognition brand Face++, heads the sci-tech efforts to host the in-person CIFTIS. The company told the Global Times on Friday that it provides facial scanning for attendees to swiftly check in and avoid crowding.
The company has also equipped the event's meeting venues with smart temperature screening to enable contactless, efficient, and precise temperature detection. It also furnished the event with smart management capable of delivering real-time alerts and reminders in case people are found in close proximity to each other or without masks.
According to the organizer's anti-pandemic prevention measures, the fair suggests that visitors complete their registration for the event online. Although on-site registration is also allowed, a green health QR code and body temperature check are necessary before entering the event.
CIFTIS Photo:VCG
Enthusiasm
Xi's speech showed to the world China's unwavering commitment to integrate and lead economic globalization, as well as its responsibility as a big nation to promote global cooperation and upgrade the services trade, Suning Holdings Group Chairman Zhang Jindong told the Global Times on Friday.
The opening of the fair - against the backdrop of a global economic slowdown under the dual impact of pandemic outbreak and trade protectionism - will also provide a platform for companies to expand opportunities and explore new markets, Zhang noted.
Two of China's vaccine front runners - among the most attention-grabbing at this year's event - offered some insight into the nation's leadership in controlling the epidemic.
"We have launched [coronavirus vaccine] clinical research in many countries, including the United Arab Emirates, Bahrain, Argentina, Peru, and Morocco. We have also maintained close communication with the WHO and joined the WHO-initiated solidarity trial for COVID-19 treatments," Zhang Yuntao, vice president and chief scientist of China National Biotec Group (CNBG), told the Global Times on Friday at the scene.
It's hoped that the event can serve as a platform to ramp up global regulatory cooperation to begin delivering COVID-19 vaccines to the masses as quickly and safely as possible, Pearson Liu, spokesman for NASDAQ-listed Chinese vaccine developer Sinovac Biotech, told the Global Times on Friday.
Photo:Li Hao/GT
The participation of the foreign business community at the event, especially in financial services where foreign firms retain a competitive edge over their domestic peers, attests to the allure of the domestic services trade market.
The fair is a great opportunity to showcase the latest achievements in the field of domestic and international trade in services, and promote more international cooperation, Denis Depoux, Global Managing Director of Roland Berger, said in a statement sent to the Global Times on Friday.
Mastercard, the US credit card giant, which pledged active participation at the services fair in an effort to push for reciprocity and deeper opening-up of China's financial services, displayed its emerging digital payment, cross-border transaction services, and inclusive financing practice.
As the largest comprehensive exhibit in the area of global services trade, the CIFTIS has become a significant window for China's services sector to open to the outside world, Dennis Chang, division president of China for Mastercard, said in a statement the company sent to the Global Times on Friday.
"This year's CIFTIS, the first major offline international economic and trade event China has held since the virus outbreak, showcases China's achievements in preventing and containing the disease, and [its] resolve to push for greater opening," Chang said.
"The fair shows China has had the world's best epidemic prevention response, which is closely related to the government's effective governance mechanisms," Zhu Bin, director of Investment Advisory's Greater China region under Swedish Trade and Invest Council, told the Global Times on Friday, adding that European companies - such as those in Sweden - have shown they want to attend the offline event, as they believe it is a good chance to share China's business opportunities.
Photo:Li Hao/GT
Officials of China's Ministry of Commerce said on Thursday that international and domestic exhibitors have shown strong enthusiasm for the event, and the number of participating companies and the event's scale have exceeded previous years.
This fair has attracted participants from 148 countries and regions. A total of 18,000 companies and organizations from around the world have registered online and offline. Over 70 executives of 43 Fortune 500 companies and 20 multinational companies, including Ericsson, IBM, SAP, Philips, Siemens, Schneider and Dell have all confirmed their participation.
CIFTIS has been successfully held for six consecutive years. It has attracted a total of 10,000 companies, as well as 300 international organizations and foreign business associations from 184 countries and regions, achieving an estimated turnover of $529.33 billion.
Vice Minister of Commerce Wang Bingnan said China's imports of services will exceed $10 trillion in the next 15 years, and China's services market will open wider.
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