WTO report focuses on the Development of Trade in Services

| gov.cn

Xinhua News Agency, Shanghai, 6 Nov (Reporter Chen Weiwei and Wu Yu) the Ministry of Commerce and the World Trade Organization (WTO) jointly released the Chinese version of the 2019 World Trade report at the Shanghai National Convention and Exhibition Center on 6 November. Zhang Xiangchen, China's permanent ambassador to the WTO, said that this is the second consecutive year that China has released the Chinese version of the World Trade report during Import Expo, highlighting China's firm position in supporting the multilateral trading system.

Zhang Xiangchen introduced at the press conference that this year's report focuses on the theme of trade in services and attempts to adopt new statistical methods for the first time to more fully reflect the actual situation of global trade in services. At the same time, the trend of service-oriented manufacturing and digital service industry deeply reshape the traditional business model, which provides a strong driving force for the innovative development of trade in services.

World Trade Organization Director-General Azevedo said that in recent years, the scale of global trade in services has been increasing, with an average growth rate exceeding that of trade in goods. However, the current cost of cross-border trade in services is twice that of trade in goods, and it still faces many policy barriers, and coordination and cooperation need to be further strengthened at the international level.

In addition, Zhang Xiangchen said: since China's accession to the WTO, China's trade in services has not only achieved its own rapid growth, but also provided unprecedented market opportunities for the world. Facing the future, China will continue to promote the liberalization and facilitation of global trade in services and build a community of shared future with highly integrated interests and interdependence with other countries.

WTO report focuses on the Development of Trade in Services

| gov.cn

Xinhua News Agency, Shanghai, 6 Nov (Reporter Chen Weiwei and Wu Yu) the Ministry of Commerce and the World Trade Organization (WTO) jointly released the Chinese version of the 2019 World Trade report at the Shanghai National Convention and Exhibition Center on 6 November. Zhang Xiangchen, China's permanent ambassador to the WTO, said that this is the second consecutive year that China has released the Chinese version of the World Trade report during Import Expo, highlighting China's firm position in supporting the multilateral trading system.

Zhang Xiangchen introduced at the press conference that this year's report focuses on the theme of trade in services and attempts to adopt new statistical methods for the first time to more fully reflect the actual situation of global trade in services. At the same time, the trend of service-oriented manufacturing and digital service industry deeply reshape the traditional business model, which provides a strong driving force for the innovative development of trade in services.

World Trade Organization Director-General Azevedo said that in recent years, the scale of global trade in services has been increasing, with an average growth rate exceeding that of trade in goods. However, the current cost of cross-border trade in services is twice that of trade in goods, and it still faces many policy barriers, and coordination and cooperation need to be further strengthened at the international level.

In addition, Zhang Xiangchen said: since China's accession to the WTO, China's trade in services has not only achieved its own rapid growth, but also provided unprecedented market opportunities for the world. Facing the future, China will continue to promote the liberalization and facilitation of global trade in services and build a community of shared future with highly integrated interests and interdependence with other countries.





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