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China aims to develop trade in services

Updated: Jan 15,2015 9:19 AM

The State Council announced a series of measures aimed at accelerating the development of trade in services.

A statement released after an executive meeting of the State Council on Jan 14 said China’s trade in services has developed rapidly in recent years, but is still a weak point of its foreign trade.

Premier Li Keqiang chaired the meeting, which said that progress in this sector is important for China’s policy of opening-up, as it creates jobs, and also helps cultivate new growth engines.

The meeting announced four measures to develop trade in services:

1. The government will nurture enterprises involved in transportation, telecommunication, research, design, and ecological protection — and aim to boost exports of arts and cultural goods and services.

2. The authorities will promote the development of high-end industries and high value-added services — so as to strengthen competitiveness.

3. The country aims to build a new-type platform for trade in services based on big data and the Internet of things.

4. China will gradually open up the finance, education, culture and healthcare markets, and speed up service trade liberalization between the mainland and Hong Kong and Macao.