2022 CIFTIS concludes with fruitful results
2022 CIFTIS concludes with fruitful results

2022 CIFTIS concludes with fruitful results

The six-day 2022 China International Fair for Trade in Services (CIFTIS) concluded on Monday, attracting more participants and achieving more cooperation than last year despite the impact of COVID-19.

The CIFTIS provided all participants with a platform for cooperation and vast market opportunities, said officials at a press conference held Monday afternoon at the fair. Moreover, it demonstrated China’s commitment to promoting a higher level of openness and the prosperity of the global service trade, they noted.

This year, the CIFTIS held seven summits and more than 100 thematic forums and conferences. It also saw a total of 1,339 projects and contracts concluded, according to preliminary statistics from the event.

Previous data revealed that more than 1,400 enterprises from 71 countries attended this year’s fair.

In the first half of the year, China’s service trade value totaled 2.89 trillion yuan (about $426 billion), up 21.6 percent year on year. In comparison, the trade volume of knowledge-intensive services grew by 9.8 percent, with robust growth in the telecommunications and information service sectors, official data showed.

China has hosted a series of trade fairs since late 2021, such as the China International Import Expo, China Import and Export Fair, and the China International Consumer Products Expo, demonstrating the country’s commitment to promoting openness and its firm support for the multilateral trading system.

Source: Xinhua


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