China Issues Guidelines to Promote Service Trade with Opening Up

A report from Xinhua on Sept. 6th, 2024:

China’s State Council has unveiled a set of guidelines to promote high-quality development of trade in services with high-standard opening up.

The introduction of the guidelines, which listed 20 major tasks in five aspects, is expected to accelerate the process of digital, intelligent and green development of trade in services in the country.

It is also expected to expand the scale, optimize the structure, improve the efficiency and enhance the strength of trade in services, to make greater contributions to building an open economy at a higher level in China.

The guidelines called for promoting institutional opening up of trade in services, fully constructing the management system of the negative list for cross-border trade in services and improving the standardization level of service trade.

They also stressed promoting the cross-border flow of factors of production and innovative development of key areas such as international transportation, tourism and financial services.

It is necessary to expand the layout of the international market and deepen international cooperation in trade in services, while innovative support policies and measures will be improved in the country.

The country will create an environment for the development of trade in services that promotes opening up, innovation, fair competition and order, according to the guidelines.