China’s Ministry of Commerce (MOC) says it will continue to boost reforms of the services trade this year.
Gao Feng, the spokesperson of the ministry made this known while briefing newsmen on Thursday.
According to him, the ministry will roll out more policies to facilitate the high-quality development of digital, technology and cultural trades.
Feng said this would be achieved following the 14th five-year plan for the development of the services trade.
He said the ministry would continue to explore the opening-up of the services trade and work on a national negative list for cross-border trade in services.
According to Feng, the ministry will select areas to be built into national demonstration zones for the innovative development of the services trade.
The spokeperson said that China would further develop the digital trade and build related demonstration zones to promote technological and institutional innovation.
In 2021, China’s services trade grew by 16.1 per cent year-on-year to nearly 5.3 trillion Yuan (about 831.42 billion U.S. dollars).
According to World Trade Organisation (WTO), in contrast to trade in merchandise, trade in services is the sale and delivery of intangible products such as transportation, tourism, telecommunication, advertising, computing and accounting, among others.