From September 10 to 14, 2025, Beijing is hosting the China International Fair for Trade in Services (CIFTIS), the world’s largest dedicated expo for service commerce. With the theme “Digital Intelligence Leading, Revitalizing Service Trade,” this year’s gathering underlines China’s push to transform its service sector into a global growth engine.
In a congratulatory letter, Chinese President Xi Jinping emphasized China’s commitment to open and innovative cooperation, aiming to build an open world economy and share new growth opportunities in services.
The 2012—launched CIFTIS has welcomed nearly 1.19 million participants from 198 countries and regions, alongside 800+ international business associations. What began as a platform to showcase China’s service trade achievements has become a networking hub where finance, logistics, culture, education, healthcare, and technology leaders forge new partnerships.
Behind the buzzing exhibition floors lies a quiet revolution: the shift from a goods—export powerhouse to a service—driven economy. Back in 1994, services made up just 34.7% of China’s GDP. By 2024, that share surged to 56.7%. Last year alone, China’s trade in services hit 7.5 trillion yuan—a 14.4% year—on—year leap—securing its spot as the world’s second—largest services trader.
Why does this matter for young professionals and entrepreneurs? Once economies pass a $10,000 per capita GDP milestone, spending pivots from products to experiences and expertise. In China, demand for quality healthcare, education, tourism, and cultural content is booming, signaling a massive consumption upgrade. Yet with service trade still trailing most G20 peers, the sky’s the limit for new market entries.
As digital services, data analytics, R&D, and creative industries expand rapidly, many argue the 21st century’s defining assets won’t be steel and shipping containers—but software, data, design, and culture. With CIFTIS spotlighting this evolution, China is not just following global trends—it’s aiming to lead them, steering the service trade into uncharted blue oceans of opportunity.
Reference(s):
cgtn.com
