Spotlight: China’s accelerating development of services trade benefits global economy – Xinhua | English.news.cn – Xinhua

Spotlight: China’s accelerating development of services trade benefits global economy – Xinhua | English.news.cn – Xinhua

CHINA-BEIJING-CIFTIS-PREPARATION (CN)

Photo taken on Sept. 2, 2020 shows the outdoor exhibition area of the China International Fair for Trade in Services (CIFTIS) in Beijing, capital of China. The CIFTIS is to be held from Sept. 4 to 9. (Xinhua/Xing Guangli)

BEIJING, Sept. 3 (Xinhua) — The China International Fair for Trade in Services (CIFTIS) scheduled to kick off Friday in Beijing is the first major international economic and trade event held offline in China since the outbreak of the COVID-19 pandemic.

China’s accelerating development of services trade will provide huge market and rich opportunities for cooperation for countries worldwide, and boost global economic recovery as the pandemic has dealt a heavy blow to the world economy, analysts and scholars have said.

CONFIDENCE IN RECOVERY

In the context of the complex international trade situation amid the pandemic, an international trade fair of such a scale in China is prominent and of great significance not only for China, a country that has managed to control the epidemic at an earlier date.

Peter Bakker, president and CEO of the World Business Council for Sustainable Development, said that the Chinese government responded appropriately when faced with the COVID-19 crisis.

Through this exhibition, people expect to see how China has responded to the crisis and made efforts for economic recovery, he said.

Gamal Bayoumi, head of the Cairo-based Arab Investors Union, told Xinhua that in recent years, despite the rise of global trade protectionism, China has been committed to promoting international trade.

With the epidemic hitting most
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