General

At the just concluded fifth China Business News Expo, many foreign service enterprises showed their latest development in the Chinese market.

Transport services are an important part of service trade. In the service trade exhibition area, DHL Express, the first international express delivery company to enter the Chinese market, focused on the latest phased achievements in keeping with the development of new cross-border e-commerce formats and making efforts to develop a new track for sustainable development.

Wu Dongming, CEO of DHL Express China, said that, "As the 'old friends' of the Expo, we can see China's big open market and new opportunities through this platform. With the deepening of the new development pattern and the support of a series of measures to promote the stability and quality of foreign trade, more and more Chinese high-quality and competitive products are speeding up to go abroad and sell well in the world, which will also bring more international logistics needs and development opportunities".

According to Wu Dongming, since this year, DHL Express China has successively invested in a number of new facilities, reconstruction and expansion projects in Malaysia, improved the construction of the logistics system, improved the operation capacity of facilities, and increased the delivery capacity. In October this year, DHL Express officially opened the air express collection area in the cross-border e-commerce processing center of Guangzhou Baiyun International Airport International Terminal 1, and further intensified the opening of the Guangzhou Cincinnati route to provide more adequate storage and transport capacity for export goods in South China, as well as more efficient transshipment services. In Shenzhen, Qingdao and other places, DHL Express has also opened or encrypted a number of intercontinental freight routes to help import and export enterprises go further and more steadily.

Not only DHL Express, but also Fuyis Auction House continues to cultivate the Chinese market. This year is the second time for Fuyisi Auction House to participate in the Expo. It has brought the classic representative works of Gerhard Richter, a German art master who is highly respected in the contemporary art world, and KAWS, a heavyweight of pop culture phenomenon. It has also selected a series of wonderful works of contemporary female artists, including the works of Japanese contemporary artist Michio Cajima and the "Star of the Future" hexagons.

"Participating in the Expo twice in a row is one of our commitments to continue to expand the Chinese market. Benefiting from the tax exemption policy during the exhibition period, we provide domestic collectors with collection channels other than auctions to contribute to the development of culture and art in the mainland. At the same time, we also look forward to continuing to extend to the potential Chinese mainland market and create more opportunities," said Zhang Wenjia, the director of Fortis China.

In fact, at the Expo, like DHL Express and Fuyi, there are not a few foreign service enterprises that are confident in the Chinese market. Their rapid development in China has also contributed an important force to the booming development of China's service imports.

"At present, China is the world's largest importer of services and an important market for global service providers to expand." Zheng Wei, associate researcher of China Service Outsourcing Research Center, said that at the Expo, exhibitors in the service trade exhibition area brought innovative service products, ranging from intelligent logistics to low-carbon technology, from scientific research and development to sales network, from financial technology to the development of the universe.

In Zheng Wei's view, with the continuous adjustment and upgrading of the global industrial structure, the status of R&D, testing, finance, insurance, consulting and other service industries in the global value chain system has been further improved, and these service industries will also be indispensable key elements for China's high-quality economic development.

According to customs data, China's service trade continued to grow from January to September. The total import and export of services was 4472.27 billion yuan, up 18.2% year on year. According to customs data, the service export was 21480.2 billion yuan, up 20.5%; Imports reached 2324.26 billion yuan, up 16.1%.

According to customs data, in the first three quarters, China's service imports continued to grow rapidly, achieving double-digit growth year-on-year, with total imports exceeding 2.3 trillion yuan. It is worth mentioning that, with China's increasing openness in the field of service trade, the proportion of high-quality service imports, represented by knowledge intensive service imports and foreign investment in high-tech services, has been rising, which deeply reflects the further optimization of China's service import structure.

According to customs data, from January to September, China's import and export of knowledge intensive services reached 1864.87 billion yuan, up 10.2%. According to customs data, the import of knowledge intensive services was 821.85 billion yuan, up 4.8%. Insurance services were the fastest growing area, with a growth rate of 56.2%.

Zheng Wei said that in the context of the COVID-19's ups and downs, the sluggish recovery of the world economy, and the intensified turbulence in the international situation, China still insists on building a platform for global service providers to communicate, cooperate, display, and negotiate in an all-round way. This not only fulfilled China's commitment of "opening the door wider and wider", but also contributed a strong Chinese force to the innovative development of global service trade. Looking forward to the future, China will use the Expo as a platform to explore the institutional opening path of the service industry from multiple perspectives and in an all-round way, attract more high-quality foreign investment in the service industry to develop in China, constantly improve the facilitation level of cross-border service trade, and share the dividend of China's reform and opening up in the new era and the development opportunities of the super large market with global service providers.