Ministry of Commerce and WTO report on China's Trade in Services
The Ministry of Commerce and the World Trade Organization ((WTO)) jointly organized the Chinese version of the World Trade report 2019 at the National Convention and Exhibition Center (Shanghai) Information Center on November 6. Zhang Xiangchen, China's permanent ambassador to the WTO, said: this is the second year in a row that China has released the Chinese version of the World Trade report during Import Expo, demonstrating China's firm stand in supporting the multilateral trading system.
This year's report, which focuses on the theme of trade in services, shows that from 2005 to 2017, global trade in services grew faster than trade in goods, and the trend of digitization of manufacturing services and services deeply reshaped traditional business models. To provide a strong driving force for the innovation and development of trade in services. Zhang Xiangchen pointed out: since China's accession to the WTO, China's trade in services has not only grown rapidly, but also provided unprecedented market opportunities for the world.
Azevedo, director-general of the World Trade Organization, believes that services are an important part of the global value chain. In recent years, the scale of global trade in services has been increasing, with an average growth rate exceeding that of trade in goods, and its role in international trade has become increasingly prominent. At the same time advances in information technology have facilitated the participation of SMEs and women in global trade in services and helped countries to achieve inclusive development. However, cross-border trade in services, which currently costs twice as much as trade in goods, still faces many policy barriers and requires further coordination and cooperation at the international level. (reporter Wang Junling)