As one of the highlights of the 2020 China International Fair for Trade in Services (CIFTIS), a summit forum on Trade in Services Facilitation from the Perspective of Multinational Corporations was held at the National Convention Center in Beijing on September 5. Participants from different countries and regions reached consensus during the discussion. They agreed that trade in services is a potential source of global economic growth and will provide new opportunities for the development of global enterprises. China continues to deepen reform and opening-up in the service sector. Multinational companies are an important bridge connecting China with the world in the development of service trade. "Chinese services" will benefit the whole world while developing itself.
The service sector is helping the world economy recover
The Summit forum on "Service Trade Facilitation from the Perspective of Multinational Corporations" was co-hosted by Development Research Center of The State Council, China Council for the Promotion of International Trade and Beijing Municipal People's Government. Gao Yan, President of China Council for the Promotion of International Trade, Zhang Jungu, Vice Director of Development Research Center of The State Council, Zhang Jiaming, Vice Mayor of Beijing, and other guests attended and addressed the forum.
Gao pointed out in her speech that the service sector is a new engine and new direction for promoting world economic recovery. In the era of economic globalization, trade in services, as an important component of international trade, plays an important role in promoting the transformation of economic development modes, industrial transformation and upgrading and sustainable development of countries and regions. Since reform and opening-up, China's trade in services has grown rapidly, becoming a new engine driving the development of foreign trade and deepening opening-up. Looking ahead, The Chinese economy will enjoy long-term sound growth and be more closely connected with the world economy. It will become a huge gravitational field attracting international goods and factor resources. China will gradually form a new development pattern with the major domestic cycle as the main body and the double domestic and international cycles reinforcing each other, promote high-quality belt and Road cooperation, and comprehensively deepen trials for innovative development of trade in services. This will create a broader market space for service providers both at home and abroad. Transnational corporations are playing an increasingly important role in promoting international cooperation in trade in services, exploring the development of new business forms and models, and promoting the facilitation of trade in services. China Council for the Promotion of International Trade stands ready to work with all parties to build more platforms and provide all-round services for exchanges and cooperation between Chinese and foreign enterprises and mak
contribution to the development of trade in services and world economic recovery.
With the theme of "Global service, Mutual Benefit and Sharing", the event sends out a positive signal of China's commitment to opening-up and strengthening international economic and trade cooperation, Zhang said. China will further promote the facilitation of trade in services at a higher level. We will further improve the negative list management system, improve the pre-establishment and post-establishment national treatment system for foreign investment, strengthen legal guarantee for high-level opening-up in the service sector, and improve the in-process and post-establishment supervision system that is consistent with the negative list management model. As important participants, witnesses and beneficiaries of China's service trade cooperation with other countries, transnational corporations play a unique role in the service trade cooperation with other countries and serve as an important bridge connecting China and the world in the development of service trade. China is ready to work with multinational companies to deepen mutually beneficial cooperation, jointly uphold the multilateral trading system and push economic globalization in the right direction.
Victoria Kwa, Senior Vice President of the Asia Pacific Region of the World Bank Group, said in her speech that reducing or eliminating barriers to trade in services, increasing competition in the service market and further opening up the service market can effectively promote economic growth.
"The growth in trade in services will be hugely positive," said Steven Alan Barnett, imf chief representative in China. Full liberalisation of trade in services could increase manufacturing productivity by 20 per cent."
As the world's first comprehensive exhibition in the field of trade in services, China's service Trade Expo serves as a platform and bridge for countries to strengthen cooperation in trade in services. Zhang said at the forum that As the country's first comprehensive pilot city to further open up the service sector, Beijing is constantly exploring and practicing to further open up the service sector, continuously optimize the business environment, and is committed to attracting more multinational companies to settle in Beijing to jointly promote high-quality economic development.
Multinational companies are active participants in "Serving China"
On the peak BBS, the guests "multinational companies in China to promote the role of global service trade liberalization and facilitation," "introduced new measures to high levels of opening to the outside world, to create a good international business environment" for a keynote speech and dialogue issues such as the attachment, encourage multinational companies play the advantages of the global layout, efforts to promote the construction of economic power, We will accelerate high-quality trade development. More than 200 people, including experts, scholars, representatives from relevant institutions and multinational enterprises, attended the forum.
"China offers great opportunities for global companies such as ABB." Robert Lobien, CEO of ABB Group, said that China has become the second largest market of ABB Group in the world and ABB will continue to expand its investment in China. In China, ABB group is engaged in r&d, manufacturing, sales and engineering services.
"China will continue to lead the global economic recovery, there is no doubt about that," said Andre Andreessen, chief economist and managing director of Swiss Re. The global economy is benefiting from the resilience of the Chinese economy." He also suggested that the reinsurance market could be used to increase economic resilience.
Shan Guohong, president of Takeda China, said that China is full of opportunities for the biopharmaceutical industry and will become a global innovation hub in the future. At present, Takeda China has realized the layout of the whole industrial chain in the country, and has set up research and development centers. "We hope that the innovation sector can achieve global synchronization, so that China can keep pace with the world in the field of innovative drug research and development."
Chen Wenling, chief economist of China Center for International Economic Exchanges, thinks that from the perspective of multinational companies, service trade mainly focuses on the following six aspects: first, multinational companies enhance the tradability through the Internet digital technology network platform; Secondly, through the global industrial chain and supply chain, transnational corporations have constructed the service chain with the service trade as the main form in the world. Thirdly, the form and composition of transnational corporations' international trade have changed greatly. Fourth, multinational companies have gained huge profits from service trade through industrial design, brand and intellectual property export in China. Fifth, trade in services and digital trade should be taken as two major directions to accelerate the level of development. Sixth, China will become a world trade center and a big market, which will promote the development of service trade.