Sharing and Win Win: Overseas Enterprises Highly Evaluate the Service Trade Fair

Beijing, September 5th (Xinhua) -- The 2023 China International Fair for Trade in Services will be held in Beijing from September 2nd to 6th to welcome guests from all directions. The theme of this year's Service Trade Fair is "Openness leads development, cooperation, and win-win future", further promoting exchanges, negotiations, mutually beneficial cooperation, and mutual benefit among exhibitors and merchants. Overseas entrepreneurs have expressed that the China International Fair for Trade in Services (CIFTIS) provides an important platform for cooperation and exchange between domestic and foreign enterprises, which is conducive to expanding new opportunities in the Chinese market and assisting the development of global trade in services.

Open cooperation

This year's China International Fair for Trade in Services has attracted more than 80 countries and international organizations to set up exhibitions, more than 2400 companies to participate offline, and more than 500 Fortune Global 500 and industry leaders to attend. The host country, the UK, has formed the largest exhibition group since the exhibition... With China's continuous promotion of high-level opening up to the outside world, overseas exhibitors are competing to participate, and the "circle of friends" of the Fair is becoming larger, with a higher level of internationalization and specialization.

On September 4th, visitors passed by the Saudi Arabian brothers holding group booth at the Service Trade Fair. Photo by Xinhua News Agency reporter Wu Wei

In 2022, the Saudi Arabian brothers holding group participated in the Service Trade Fair for the first time. This year, the group has expanded the area of the service trade exhibition platform. Mohammad Al Agilan, Vice Chairman of the Group, stated that the Fair for Trade in Services is an important platform for China to continue deepening its opening-up to the outside world, which will further promote bilateral trade between China and Saudi Arabia and inject new momentum into world economic growth.

Massimo Baniasco, partner of Italy's Borgit Architectural Design Consulting Co., Ltd., said that the Fair for Trade in Services is an extremely important platform for promoting cooperation between international service providers and Chinese enterprises. It enables both parties to have face-to-face communication and establish friendly relationships for potential cooperation, allowing more overseas enterprises to join the booming Chinese market.

Ahmad Chowdhury, the president of Pakistan's Sasha Jewelry Enterprise, which has a history of over a hundred years, told reporters that attending the Service Trade Fair is an important agenda for the company every year. During the exhibition, he had in-depth exchanges with many Chinese jewelry peers, providing a reference for his company to select locations and open new stores in China.

Mutual benefit and win-win situation

In recent years, with the continuous deepening of international cooperation in China's service trade, more than 200 countries and regions have had service trade exchanges with China, and China has signed memorandums of cooperation in service trade with 15 countries. According to data from the Chinese Ministry of Commerce, the total import and export of services in China reached nearly 6 trillion yuan in 2022, a year-on-year increase of 12.9%, and the scale reached a historic high. In the first half of this year, the growth trend continued to maintain, with China's total import and export of services reaching 3.1 trillion yuan, a year-on-year increase of 8.5%.

Giovanni, Chief Representative of the Beijing Representative Office of Italy's Eni Group, said that the group hopes to further strengthen its investment in the field of green economy in China. The Fair for Trade in Services is of great significance in helping overseas enterprises increase their investment in China. He believes that the positive role played by overseas enterprises in China's economic development has been widely recognized, which has strengthened their confidence in continuing to invest in China.

On September 4th, exhibitors tasted Georgian wine at the Georgia booth of the Trade in Services Fair. Photo by Xinhua News Agency reporter Wu Wei

George, a representative of Georgian wine manufacturer Tevilli Limited, said that the "pragmatism" and "high popularity" of the Service Trade Fair left a deep impression on him. Georgian wines have a long history and unique flavors, and many Chinese companies and institutions have negotiated cooperation with him at the exhibition booth.

Cai Weicai, Senior Vice President of Kaitai Bank in Thailand, stated that the Service Trade Fair provides an excellent platform for overseas enterprises, including Kaitai Bank, to communicate with customers, expand markets, and integrate resources, which is conducive to promoting close connections between China, Thailand, and even the ASEAN market, and providing assistance to promote the vigorous development of cross-border trade.

Sharing opportunities

Currently, the service industry has become a pillar industry of the global economy, with broad prospects and enormous potential for the development of service trade. Using meetings as a medium, new trends in service trade development such as digitization, intelligence, and green low-carbon are continuously expanding the space for service economy development. The Service Trade Fair has become an excellent opportunity for overseas enterprises to expand cooperation and enhance brand influence in the Chinese market.

This is the UK Pavilion taken on September 3rd at the National Convention Center's comprehensive exhibition area. Photo by Sun Weitong, journalist from Xinhua News Agency

Dent Crawford, department head of VR Sports Training Company in the UK, said that the Fair was "full of surprises" and the atmosphere was very friendly in all aspects. The development potential in the field of sports technology is enormous. The company hopes to further understand the needs of the Chinese market and find future partners through the Service Trade Fair, in order to fully prepare for entering the Chinese market in the future.

Miguel Villanueva from Mexico has opened a business consulting firm in Beijing. In his view, the Fair for Trade in Services has become an important carrier for exchanges and cooperation between companies from China and Mexico. A continuous stream of people come to consult and collaborate on business, providing many new opportunities for the company's development in China.

Mehdi, representative of Iran's Huluo Mountain Food Company, said that the company has participated in the Service Trade Fair for three consecutive years, allowing more and more Chinese enterprises and the public to understand Iran's unique products. The Service Trade Fair not only enhances the probability and efficiency of negotiating cooperation and business docking with Chinese partners, but also becomes a "barometer" for Iranian enterprises to better understand the needs of the Chinese market.

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Editing: Li Linyin

Produced by the International Department of Xinhua News Agency

Produced by Xinhua News Agency's International Communication Integration Platform