Full of confidence in the prospects of the Chinese market

Figure 1: On September 2nd, staff from Agilent Brothers Holdings had in-depth exchanges with exhibitors at the booth.

Photo by Xia Depeng

Figure 2: On September 4th, exhibitors experienced VR devices in front of the Ernst&Young Group booth.

Photo by Li Chuang

Figure 3: Amazon Cloud Technology staff introduces artificial intelligence facial health detection devices to visitors.

Photo by Xinhua News Agency reporter Fang Zhe

Figure 4: On September 4th, the exterior of the National Convention Center, the main venue of the China International Fair for Trade in Services.

Photo by People's Daily reporter Weng Qiyu

On September 7th, the container terminal of Lianyungang Port in Jiangsu Province was bustling with activity.

Photo by Wang Chun

The recently concluded China International Fair for Trade in Services has yielded fruitful results, injecting new momentum into promoting global economic recovery. Representatives of foreign-funded enterprises participating in the Fair for Trade in Services stated in an interview with our reporter that due to China's stable and positive economic fundamentals, sound industrial and supply chain support, and continuously optimized business environment, foreign-funded enterprises have full confidence in the prospects of the Chinese market and will firmly develop in China, continuously deepen mutually beneficial cooperation, and share opportunities in China.

"Deepen mutually beneficial and win-win cooperation"

Our reporter Huan Xiang

"The theme of the 2023 Service Trade Fair is' Open Leading Development, Cooperation and Win Win Future ', highlighting international cooperation and offline activities, demonstrating China's determination to continue deepening its opening-up in the field of service trade. Mohammad Al Agilan, Chairman of the Saudi Arabia China Business Council and Vice Chairman of the Saudi Arabia Agilan Brothers Group, told our reporter that by participating in this international and high-level exhibition, the Agilan Brothers Holdings under the group can work with more Chinese enterprises to contribute to promoting mutually beneficial cooperation between Saudi Arabia and China.".

Agilan Brothers Holdings was established in 2017, with investment businesses covering fields such as technology, financial services, and consumer goods manufacturing. It is the largest Saudi private enterprise in China. Agilan stated that the popularity of the Service Trade Fair continues to increase, with companies from various countries launching new products and services, and various supporting sub forum activities providing more opportunities for industry exchanges. "China has made tremendous achievements in promoting trade liberalization and deepening high-level opening-up to the outside world. As a high-level and international platform, the Fair for Trade in Services has always attracted outstanding global enterprises to participate." Agilan believes that China's sincerity and determination in opening up to the outside world are evident. Building a series of platforms for opening up and cooperation with the outside world, such as the China International Fair for Trade in Services and the China International Import Expo, is a concrete manifestation of China's firm support for trade liberalization and economic globalization.

This year marks the 10th anniversary of the initiative of jointly building the "the Belt and Road". Saudi Arabia is China's largest trading partner in the Middle East region. Agiland said that in recent years, with the deep connection between the joint construction of the "the Belt and Road" initiative and Saudi Arabia's "Vision 2030", Agiland Brothers Holdings has helped more and more Chinese enterprises enter the Middle East and North Africa region. In the fields of logistics, medical and health, industrial manufacturing, cultural and tourism, Agilan Brothers Holdings has established joint ventures with multiple Chinese enterprises to promote strategic cooperation between Saudi and Chinese enterprises. "We will continue to deepen mutually beneficial and win-win cooperation, and benefit the people of both countries with more tangible results," Agilan said.

"Against the backdrop of a fragile global economic recovery, China remains the engine of global economic growth. Thanks to a sound industrial structure and effective policy regulation, the Chinese economy has maintained a positive trend of recovery and demonstrated strong resilience. We are optimistic about the role of China's development in promoting global economic recovery." Agilan noted that China has recently introduced a series of policy measures to expand domestic demand, boost confidence, and prevent risks. "We believe that these measures will effectively promote the qualitative and rational growth of the Chinese economy. We look forward to the implementation of more favorable policies to promote economic growth and optimize the business environment."

Agilan believes that China's steady promotion of innovation driven development strategy is of great significance to foreign-funded enterprises, including Agilan Brothers Holdings. In recent years, China has accelerated its pace of innovation, industrial upgrading is evident, and various digital achievements have benefited the daily lives of the people. A large number of Chinese enterprises with international competitiveness have emerged, launching advanced technologies, products, and services in fields such as fintech, healthcare, 5G, big data, artificial intelligence, and logistics. "We hope to help Chinese technology innovation oriented enterprises go abroad to Saudi Arabia, radiate the Middle East and North Africa markets, promote the landing of advanced technologies, and achieve localized production," Agilan said.

"Sharing new opportunities for China's economic development"

Our reporter Dai Kairan

"The Fair for Trade in Services has become one of the most influential service trade events in the world." Bi Shunjie, the relevant person in charge of Ernst&Young Group, told our reporter that the hosting of the Fair demonstrates China's firm confidence and determination to promote high-level opening-up to the outside world. Ernst&Young hopes to strengthen exchanges and cooperation with enterprises from various countries through the Fair, and create a better future together.

This year is Ernst&Young's fourth participation in the Service Trade Fair. At this year's Service Trade Fair, Ernst&Young focused on areas such as green sustainability, open cooperation, and digital transformation, proposing innovative solutions around green finance, digital tools, and more. "Over the past four years, Ernst&Young's booth size at the China International Fair for Trade in Services (CIFTIS) has been increasing, with more and more diverse events held and a growing enthusiasm for participation. We hope to use the CIFTIS platform to discuss cooperation and seek development with enterprises from various countries," said Bi Shunjie.

It is understood that 83 countries and international organizations have set up exhibitions and events in the name of governments or headquarters at this year's Service Trade Fair. Bi Shunjie stated that the China International Fair for Trade in Services has built a platform for enterprises from various countries to exchange and learn from each other, deepen cooperation, and help participating companies find partners that meet their own needs and goals, and jointly develop new products and technologies. With the rapid iteration and upgrading of cutting-edge technologies such as artificial intelligence, general models, and virtual reality, service trade is accelerating its transformation towards digitization and technology. The release and display of related industry achievements have become a major highlight of the Service Trade Fair over the years. "Every year, the China International Fair for Trade in Services (CIFTIS) showcases numerous heavyweight achievements, leading the trend of industry innovation and injecting new vitality into the development of global service trade," said Bi Shunjie.

In the current era where globalization is facing a backlash and the world is facing various risks and challenges, service trade is becoming an important driving force for global economic recovery. The Global Trade Update Report released by the United Nations Conference on Trade and Development shows that in the first quarter of 2023, global trade in goods and services returned to a growth trend, while China's trade in services has maintained rapid growth, ranking second in the world for nine consecutive years. In the first half of 2023, China's total import and export of services reached 3.1 trillion yuan, a year-on-year increase of 8.5%. "The global digital economy is flourishing, and service trade has become a key area for technological and knowledge innovation, which will effectively promote global industrial transformation and upgrading, and help the global economy continue to recover and grow." Bi Shunjie said that China has advantages in digital transformation, technological innovation, and other fields, and the proportion of knowledge intensive service trade is constantly increasing. Platforms such as the Service Trade Fair have also effectively promoted cooperation between China and countries and regions in the field of service trade.

"Against the backdrop of numerous uncertainties in the global economy, the Chinese economy has shown tremendous development resilience. Many foreign-funded enterprises continue to expand their investment in China, making it their preferred investment destination, which has given Ernst&Young confidence in the prospects of the Chinese economy. Bi Shunjie believes that China is striving to create a market-oriented, rule of law, and internationalized business environment, promoting high-quality development of the service industry and service trade through high-level openness." We will continue to deeply cultivate the Chinese market and share new opportunities for China's economic development. "

"Continue to explore the Chinese market"

Our reporter Zhang Yuannan

"The Service Trade Fair provides a rare opportunity for participating enterprises to exchange and deepen cooperation, which is of great significance for promoting the development of global service trade." Gu Fan, the relevant person in charge of Amazon Cloud Technology, told our reporter that China is continuously expanding its opening-up to the outside world, optimizing its business environment, and providing convenience for the development of foreign-funded enterprises in China. Amazon Cloud Technology is confident in achieving greater development in China.

During this year's Service Trade Fair, Amazon Cloud Technology participated in the "2023 Green Development International Summit Forum", and its customer case of "Empowering Haier Smart Home to Build a Digital Design Center on the Cloud" was selected as a service demonstration case for the 2023 Service Trade Fair. "We shared our experience in infrastructure and service sustainability, as well as the results of a series of solutions jointly launched with partners." Gu Fan said that the China International Fair for Trade in Services (CIFTIS) has always been highly concerned about the theme of environmental protection. Enterprises from various countries showcase new products, technologies, and application scenarios of global service trade around green innovation, making CIFTIS an important platform for companies from various countries to showcase and disseminate new formats, models, and concepts of service trade development.

In recent years, with the accelerated innovation of technologies such as big data, cloud computing, the Internet of Things, and artificial intelligence, digital trade has become an important engine driving global economic recovery and growth, and the pace of digital transformation in service trade is constantly accelerating. In the first half of this year, the import and export scale of services that can be digitized and delivered in China continued to grow by 12.3%, which is 3.8 percentage points higher than the overall growth rate of service imports and exports. China's service trade is constantly moving towards high-quality development with high added value and good growth potential. Digital technologies represented by cloud computing and artificial intelligence are widely applied in various industries, including production, operation, and sales.

"China has always been one of the most important markets for Amazon Cloud Technology in its global business layout. We have been committed to collaborating with Chinese partners to use cloud computing technology to serve the digital transformation and innovation of Chinese enterprises." Gu Fan introduced that more and more Chinese overseas enterprises are promoting their transformation from manufacturing to high-tech enterprises, improving the level of product intelligence and networking. He said that the field of enterprise services is becoming a new hotspot for service trade going global. "Amazon Cloud Technology has accumulated more than a decade of experience in helping Chinese companies go global, and we are optimistic about the prospects for Chinese companies going global."

It is reported that Amazon Cloud Technology has continuously increased its investment in China in recent years. Currently, it has established Shanghai Artificial Intelligence Research Institute and Shenzhen Internet of Things Laboratory, and has expanded its data center cluster in Ningxia in the second phase. It has also established joint innovation laboratories with Anke Innovation Company, Ctrip Group, CIMC Group, and Zhongke Chuangda Company. At last year's Service Trade Fair, Amazon Cloud Technology also signed cooperation agreements with Tianjin Economic and Technological Development Zone and Zhongshan City Bureau of Commerce in Guangdong Province, establishing intelligent manufacturing digital empowerment centers and intelligent manufacturing and biopharmaceutical digital empowerment centers.

"In order to better layout the Chinese market and serve the construction of digital China, Amazon Cloud Technology will continue to expand its investment in China." Gu Fan said that 2023 marks the 10th anniversary of Amazon Cloud Technology's entry into China, and China's continuous expansion of openness and optimization of the business environment are exciting. "In the future, we will continue to explore the Chinese market and achieve mutual benefit and win-win results."