The 2025 China International Fair for Trade in Services (CIFTIS) in Beijing set the stage for a bold call to action on Wednesday as the Chinese vice premier Ding Xuexiang urged countries to tear down service trade barriers and ramp up global cooperation to fuel economic growth.
Speaking at the Global Trade in Services Summit, Ding – also a Standing Committee member of the Political Bureau of the Communist Party of China's Central Committee – emphasized that, despite growing unilateralism and protectionism, China remains committed to high-standard opening-up in service trade. "We will keep promoting the facilitation and high-quality development of service trade, not only to drive domestic growth but to unlock fresh opportunities for the world economy," he said.
He outlined a three-point plan:
- High-level openness: Enhance regulatory coordination, align standards, cut service trade barriers, and create a friendlier business environment.
- Innovation-driven growth: Embrace digital, networked, and intelligent trends; foster cooperation in AI and big data for smarter, more efficient services.
- Mutually beneficial FTAs: Pursue more high-quality free trade agreements to use service trade as a catalyst for shared prosperity.
The summit, co-hosted by the Beijing Municipal Government, China's Ministry of Commerce, and the United Nations Conference on Trade and Development (UNCTAD), featured video or on-site contributions from leaders like Australian prime minister Anthony Albanese, Peruvian president Dina Boluarte, WTO deputy director-general Johanna Hill, and UNCTAD deputy secretary-general Pedro Manuel Moreno.
After the keynote, Ding toured the exhibition halls, reaffirming China's commitment to boosting high-quality service imports and exports. The event drew roughly 800 officials and representatives from countries and regions around the globe, highlighting a shared desire to turn service trade into a driving force for sustainable, inclusive growth.
With the global economy at a crossroads, Ding's message resonated as a pragmatic blueprint: open up, innovate together, and build partnerships that lift all economies.
Reference(s):
cgtn.com
