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The Open-Oriented Development of Service Industry in BRICS Countries: Progress, Policy Measures and Enlightenments (No.48, 2021)


By Qi Yunlan, Research Team on “The Structural Reform of Service Industry Driven by Institutional and Open-Oriented Development”, Research Institute of Market Economy, DRC

Research Report, No.48, 2021 (Total 6113) 2021-3-12

Abstract: Since the launch of cooperation mechanism in BRICS countries, the member countries have focused on relaxing restrictions on market access and removing competition barriers for foreign investment in distribution supply chain services, market connection and support services, improved the transparency of regulation and control and established and strengthened cooperation mechanism among them. These measures have highly raised the opening-up level of service industry to the outside world, swiftly increased service trade volume, gained a bigger say in the world, refined the structure of service industry, sharpened the competitive edge in some sectors of service industry, consolidified the development foundation of the service industry and made a greater contribution to aggregate GDP of various countries. China needs to refer to the experience of relevant BRICS countries in light of the development characteristics of service industry at home, firmly push ahead with the openness of China’s service industry to a higher level, flesh out the laws and regulations conducive to the open-oriented development of service industry, formulate targeted opening-up measures according to the industrial characteristics, enhance the open-oriented policy measures within the service industry, make good use of the BRICS cooperation mechanism for involvement in the formulation of service trade rules, so as to promote the high-quality development of China’s service industry.

Keywords: the opening-up of service industry, policy measures, experience and enlightenments, OECD Service Trade Restrictions Index, the BRICS countries