Comprehensive service support vital for 'going out'

Editor's note: The China International Fair for Trade in Services held in Beijing from Wednesday to Sunday attracted more than 1,800 companies for on-site exhibition. Li Jun, a researcher at the Chinese Academy of International Trade and Economic Cooperation, spoke to China Central Television about the new sections introduced at this year's fair. Below are excerpts of the interview. The views don't necessarily represent those of China Daily.

CIFTIS launched "Overseas Service" exhibition areas this year to showcase services available to Chinese enterprises that are exporting products or investing overseas. For Chinese companies, especially manufacturers, global expansion is a must rather than an option. However, these manufacturers need a full spectrum of services to navigate the challenges they may face in doing so.

For instance, before expanding to overseas markets, whether through exporting products or investing overseas, enterprises may need to conduct market research and surveys. Certain special products also require certification, necessitating the support of market research firms and certification agencies.

Once they are operating overseas, enterprises need a wide range of specialist support, including financial and logistics services, for their business activities. After establishing an overseas presence, businesses also need assistance with maintenance and after-sales services.

The "Overseas Service" sections offer a one-stop platform that provides a full suite of services to help Chinese enterprises in their international expansion efforts.

In the first seven months of this year, China's trade in services showed two notable characteristics. First, China's exports of services grew much faster than its imports of services. Second, there has been a notable increase in the share of knowledge-intensive services, including high-tech services and artificial intelligence large-model services.

Efforts can be directed in the following areas to further boost China's service exports, optimize the service sector's structure and extend its value chain. First, the service sector should closely align with the demands of companies and individuals. Corporate demand will drive the development of producer services, while consumer demand, including from international residents, can fuel exports of China's consumer services, such as tourism.

Second, the sector should leverage cutting-edge technologies, such as large AI models and quantum technology. These technologies will transform traditional services, enhance service efficiency and reduce costs.

Third, the country needs to strengthen the core competitiveness of its enterprises, which is the foundation of China's service exports.

China also needs to further expand its service imports and open up the cross-border service sector. This includes measures such as reducing the negative list for cross-border trade in services. Service imports can enrich the supply of services in the country, stimulate demand and boost consumption.

Moreover, market access for foreign investment should be further broadened. Foreign investment can foster sound competition and improve domestic service supply to meet the growing demand for higher-quality services.