China to implement negative list for cross-border trade in services

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Pedestrians walk past the venue for the 2022 China International Fair for Trade in Services, which will be held in Beijing from Aug 31 to Sept 5. [Photo/CHINA DAILY]

China will implement a negative list for cross-border trade in services, expand opening-up in the services sector and bolster digital trade to shore up economic growth, said government officials on Tuesday.

A negative list refers to special administrative measures for access of foreign investors to specific fields. China introduced a negative list for cross-border trade in services at the Hainan Free Trade Port last year.

China will seize opportunities brought by the Regional Comprehensive Economic Partnership agreement, which took effect on Jan 1, to expand the scale of trade in services with other member countries in the coming years, said Sheng Qiuping, vice-minister of commerce.

In addition to accelerating the digital transformation of traditional trade in services, and underpinning the growth of smart logistics, online exhibitions and telemedicine, the government will make services more tradable, and advance emerging trade in services such as bonded area-based research and development businesses, product testing, and art exhibition and trade, he said.

Addressing a news conference in Beijing, the official stressed that China will encourage the import of advanced technologies and services for energy conservation, carbon reduction and environmental protection, as well as broaden its exports of green and low-carbon solutions.

In contrast to merchandise trade, trade in services refers to the sale and delivery of intangible services such as transportation, finance, tourism, telecommunications, construction, advertising, computing and accounting.

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Description

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Description

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Post time: Aug-24-2022

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