What is the development trend of China’s service trade？ What are the new features？ A comprehensive analysis of a report

The 2023 Global Service Trade Conference was held in Nanjing, Jiangsu Province on September 21st. At the conference, the Global Service Trade Development Index Report 2023 (hereinafter referred to as "Report") was released, and the development trends and latest trends of global and China service trade were analyzed.

Unfavorable factors such as slowing global economic recovery, shrinking external demand, supply shocks and geopolitical conflicts have affected the sustained recovery of global service trade. From China’s point of view, the overall recovery of China’s service trade is good, and it has now exceeded the scale before the epidemic.

Li Jun, Director of Institute of Service and Trade, Ministry of CommerceFrom the perspective of industry, the proportion of knowledge-intensive service trade has increased, and transportation services and core digital services have become important engines for the rapid growth of China’s service trade. From the perspective of openness, the openness of some areas of China’s service industry has improved, but the overall level of open development still needs to be improved. The momentum of digital and green development of China’s service trade has been continuously enhanced.

The Global Service Trade Development Index Report 2023 calculates the service trade development indexes of 79 economies in the world and provinces, municipalities and autonomous regions in China, and quantifies them from the dimensions of service trade, such as scale, structure, status, industrial base and comprehensive environment, and obtains the national regional index and provincial and municipal index. From the comprehensive index, in the past five years, the overall ranking of China’s comprehensive development level of service trade in the world has risen, with the service trade scale ranking second in the world and the per capita service trade scale index ranking sixth.

In addition, the Report shows that at present, China’s "bonded+service trade" has the characteristics of significantly enhanced development vitality, more diversified development models, vigorous rise of new models and new formats, and continuous innovation of supervision models.

Li Jun, Director of Institute of Service and Trade, Ministry of CommerceWith the continuous development of the bonded area and the emergence of new modes and new formats, the relevant state departments have issued a series of policies related to the bonded area, which has provided an important institutional guarantee for promoting the development of related fields. Among them, the relevant policies and regulations of "bonded+service trade" such as bonded leasing, bonded display and bonded maintenance have been continuously improved, and some comprehensive bonded zones are transforming into comprehensive bonded zones featuring service trade.

(Headquarters CCTV reporter Xu Ningning Nanjing Taiwan)