Innovative service trade development mechanism year-on-year | China | Mechanism
For a period of time, China's service trade has continued to maintain a growth trend and developed well. Data shows that China's total import and export of services in the first quarter of this year was 1584.01 billion yuan, a year-on-year increase of 8.7%. Among them, exports amounted to 680.51 billion yuan, a year-on-year decrease of 4.7%, which is 7.1 percentage points narrower than the period from January to February; Imported 903.5 billion yuan, a year-on-year increase of 21.6%; The service trade deficit is 222.99 billion yuan. In the future, service trade will play a more important role in China's economic and social construction process, further expanding development space.
Since the 18th National Congress of the Communist Party of China, China's service trade has developed rapidly and has consistently ranked second in the world for many years. At present, the volume of China's service trade can match the relevant domestic and international markets as well as upstream and downstream industries, and it covers a wide range of specific industry categories, providing a wide range of cross-border transactions. At the same time, the development of cultural trade industries such as film and traditional Chinese medicine in service trade helps to enhance China's comprehensive influence under existing international trade rules and practices, and demonstrate the country's cultural soft power. The report of the 20th National Congress of the Communist Party of China proposes to innovate the development mechanism of service trade and build a strong trading country. We should examine and grasp the development mechanism of innovative service trade within the entire chain of "trade motivation trade process trade effect".
Promoting innovation in the development mechanism of service trade is a systematic project that requires comprehensive planning, systematic planning, and overall promotion. We need to have a correct understanding and handling of the relationship between trade in services and the service industry, trade in goods, utilization of foreign investment in the service industry, and foreign investment.
On the one hand, we need to rely on productive service trade to enhance the resilience of domestic industrial and supply chains. We need to continue to increase the efforts of opening up and developing the domestic service industry, consolidate the domestic industrial foundation of service trade, and ensure stable export supply and import demand of service trade. We also need to utilize the liberalization and facilitation of service trade to promote the internationalization and specialization of the domestic service industry, further enhance the international competitiveness of service industry enterprises, and promote innovation in business formats and industrial upgrading. We need to continue to strengthen the development of traditional service trade such as transportation and insurance, and support the development of China's goods trade in an uncertain environment. We will focus on developing businesses with high knowledge and technology content and high added value, and carry out international service outsourcing cooperation in areas such as digital technology research and development, new energy technology research and development, and industrial design, actively integrating into the international service industry value chain.
On the other hand, while continuing to prioritize the utilization of foreign investment in the service industry, greater emphasis should be placed on outward investment in the service industry. Efforts should be made in various ways to help service industry enterprises improve brand awareness, expand international market share, and leverage the complementary or mutually reinforcing effects between service trade and international investment in the service industry, promoting the development of service trade through commercial existence. Effectively utilizing international organizations or platforms such as WTO, RCEP, G20, etc., to voice China's voice and propose China's solutions on issues such as cross-border data flow, injecting strong impetus into the recovery and development of the world economy.