(2020 Service Trade Fair) Observation of Service Trade Fair: Will the development of China-ASEAN service trade become a new engine of regional growth?

　　China News Service, Beijing, September 8 (Reporter Wei Xi) China and ASEAN are each other's largest trading partners, and there is great potential for economic and trade cooperation and development sustainability.

So, will service trade become a new engine for regional growth?

Data map: On September 6, Beijing, there was an endless stream of visitors to the FTC.

The 2020 China International Service Trade Fair will be held in Beijing from September 4th to 9th.

Photo by China News Agency reporter Sheng Jiapeng

　　During the 2020 China International Trade in Services Fair, participants from China and ASEAN countries are actively promoting bilateral service trade cooperation to a higher level.

　　Malaysian ambassador to China Raja Datuk Nusirwan said during the Service Trade Fair that despite the challenges posed by the epidemic, Malaysia-China trade maintained a positive momentum in the first seven months of this year, reaching US$68.4 billion, which is higher than the same period in 2019. By growth.

At present, it is of great significance to enhance service industry cooperation between ASEAN and China; efforts should be made to reduce and ultimately eliminate the factors that hinder the investment of both parties, continue to work closely, and strive to sign the Regional Comprehensive Economic Partnership Agreement (RCEP) within this year.

　　Tao Yueying, Commercial Counselor of the Embassy of Vietnam in China, is optimistic about the growth potential of service trade between Vietnam and China.

Tao Yueying said that China has been Vietnam's largest trading partner for the past 15 years, and the average annual growth rate of Vietnam-China trade in the past 10 years has reached approximately 20%.

In the first eight months of this year, China ranked third among 106 countries and regions in terms of new investment in Vietnam.

"I believe that with the support and promotion of the two governments, the enterprises of both sides will actively cooperate, and the economic and trade cooperation and service trade between Vietnam and China will continue to reach new levels."

　　According to statistics from the General Administration of Customs of China, from January to July this year, the total trade value between China and ASEAN was RMB 2.51 trillion, accounting for 14.6% of China's total foreign trade value. ASEAN's position as China's largest trading partner has been further consolidated.

In particular, China’s imports and exports with Vietnam, Malaysia, and Thailand increased steadily in the first half of this year, spurring an overall increase of 5.7 percentage points in China’s trade with ASEAN.

　　In the context of the continuous deepening and closeness of bilateral economic and trade exchanges, service trade also has huge growth potential.

　　First, the two parties can strengthen cooperation in terms of service brand and innovation capabilities.

Raja Datuk Nusirwan believes that in the field of service trade, ASEAN countries including Malaysia should be encouraged to cooperate more closely with Chinese government agencies, private sector, and research institutions to jointly enhance the brand and innovation in the service sector of both parties. , Design and quality building capabilities.

　　The second is tourism.

Take Cambodia as an example. Cambodia’s service industry accounts for about 40% of GDP, and tourism is becoming one of the important fulcrums for the development of the service industry.

Tie Gong, Minister Counselor of the Cambodian Embassy in China, said that on July 20 this year, Cambodia and China reached a final consensus on a bilateral free trade agreement. Further opening of the market between the two parties will benefit the cooperation and development of enterprises in the service industry.

　　Bossawan, Economic and Commercial Counselor of the Lao Embassy in China, also said that the Lao government attaches great importance to the development of the service industry. Among the nine major areas that encourage foreign investment, half of them involve the service industry, of which tourism ranks first.

Laos welcomes Chinese companies to visit Laos after the epidemic to find business opportunities in the service industry.

　　The third is information technology services.

Glenn, Commercial Counselor of the Philippine Embassy in China, said that the service industry is an important pillar of the Philippine economy, accounting for 60% of GDP.

Philippine service exports reached 43 billion U.S. dollars in 2019 and are expected to grow to 61 billion U.S. dollars in 2022. In particular, information technology services related to Industry 4.0 and Service 4.0 will continue to develop.

During this service trade fair, through the cloud exhibition, the Philippines displayed products and technologies in software development, animation, game development, film, digital creativity, e-education, e-learning and training, construction and engineering services, hoping to promote the Philippines China service industry cooperation.

　　The fourth is the digital economy.

The Commercial Counselor of the Indonesian Embassy in China said that in terms of digital economy, Indonesia has the largest number of "unicorn" companies in Southeast Asia. Companies such as Ant Financial, Baidu and Tencent have invested in Indonesia.

Indonesia has a large number of technical talents, with 143 million active Internet users and 106 million social media users.

By 2025, Indonesia's digital economy is expected to reach 130 billion U.S. dollars. Indonesia and China have great potential for cooperation in the service sector. They hope to enhance cooperation and common development.

　　During this service trade fair, the China-ASEAN Service Industry Cooperation Forum was held.

Xu Ningning, the executive director of the China-ASEAN Business Council, the organizer of the forum, said that China and ASEAN are highly complementary and have a large space for cooperation in the service industry.

The development of cooperation in goods trade and investment between the two sides requires the enhancement of related services in various fields such as finance, e-commerce, sales, exhibitions, and transportation. There are many opportunities for cooperation.

　　Xu Ningning believes that China, ASEAN and its member states need to further clarify the purpose of service trade cooperation and development, and take service trade cooperation development as a new engine for regional economic growth, as an important support for the development of goods trade and investment between the two sides, and as an important part of cooperation in fighting the epidemic. Measures.

(Finish)