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State Council approves plan for service trade

Updated: Feb 25,2016 7:43 PM

The State Council on Feb 25 approved a plan to develop pilot projects for the service trade proposed by the Ministry of Commerce.

The projects will be carried out in 10 cities and provincial regions such as Tianjin, Shanghai and Hainan province, as well as five state-level districts such as the Harbin New District. The pilot projects will last two years.

The State Council urged related government departments to strengthen guidance and policy support for the projects with the emphasis on management mechanism, policy system and supervision.

According to the plan, the projects are aimed at boosting the two-way opening of the service trade, fostering major market participants and exploring development models. The initiative is also expected to help optimize supporting policies for the trade and establish a statistical system.

The central government will enhance financial support, offer preferential taxes and set a guidance fund for the innovative development of the service trade.