Trade event promotes growing service industry

Wider participation of overseas exhibitors and buyers, more intensive international events and stronger support from global organizations are making the China Beijing International Fair for Trade in Services, also known as CIFTIS, an increasingly internationalized gala for the world's service industry.

For the first time, CIFTIS has a guest of honor country. The United Kingdom has become the first guest of honor country "to show the organizer's recognition that the UK is a strong power in the service industry and its expectation of Sino-UK cooperation in service trade", said Ma She, deputy director-general of the Department of European Affairs at China's Ministry of Commerce, at a theme day event on Saturday.

He said the UK is China's second-largest trade partner and investment source and destination in the European Union while China is the UK's third-largest trade partner.

"The cooperation in the service trade has become an emerging force driving the two countries' business and trade relationship over the recent years," said Ma, adding that the bilateral trade volume in service increased 35 percent in 2015 despite a 3 percent drop in commodity trade.

Martyn Roper, minister and deputy head of mission at the British embassy to China, said in a keynote speech at the event that the UK wants to "support China on its journey of economic change" that is rebalancing toward the service sector.

He said the UK welcomes the opening-up of the service sectors of science and technology, the internet, finance, culture and education, tourism and healthcare in Beijing, as the city has been a national pilot for opening the service industry in all six areas.

"Services are growing faster than manufacturing, and the sustainable growth in China presents real opportunities for UK businesses," he said. "More competition will mean more choice for consumers and help Chinese companies become even more competitive at home and abroad."

Roper said the UK has gone through a similar transition to China - from an economy that was heavily reliant on manufacturing to one that is now supported by services.

At the CIFTIS, the UK booth highlights its advanced sectors such as finance, healthcare, design, education and technical services.

Strong presence

The fair has attracted nearly 400 overseas exhibitors, an increase of more than 40 from the last session in 2014. It also has four international organizations as new partners - the World Intellectual Property Organization, the International Trade Centre, the World Trade Point Federation and the World Trade Centers Association.

Fourteen countries and regions participated in the fair for the first time, including the Czech Republic, which highlighted sectors including tourism, finance, e-commerce and creative industries.

Czechia Weddings and Meetings, a Czech company specializing in event planning, does not consider it important to attract large numbers of customers in China. Instead, it focuses on the quality of the services it provides to those who are interested, said Michaela Bezvodova, an account director of the company.

The company has just started business in China, primarily offering services online and cooperating with travel agencies, but may open offices in China in the future, Bezvodova said.

The company is highlighting its European-style wedding services at the fair. Although it has much experience in the business, it has had to make adjustments to cater to Chinese customers. There are cultural differences between the two countries but both cultures are open, said Bezvodova's colleague Denisa Morgensteinova.

Philip Kanyoonzi, first secretary at the embassy of Uganda in China, said Uganda has many opportunities in all sectors of the service industry, such as tourism, medical care and transportation, to partner with China.

"Uganda is open to all investments, especially in the service field," he said. "We have a very good investment environment, providing quite a number of incentive packages that will attract Chinese investment."

He said there are already many Chinese projects in Uganda, and he expects to introduce his country and its resources to more Chinese investors at the CIFTIS. The embassy and Ugandan companies would organize promotional campaigns in China after the fair.

zhangzhao@chinadaily.com.cn