China is set to host the 2025 China International Fair for Trade in Services (CIFTIS) this week, reinforcing its role as a global leader in the rapidly expanding services trade sector. As the world's largest comprehensive services trade exhibition, the event will spotlight cross-border collaboration and innovation, attracting governments, businesses, and institutions from over 100 countries and regions.
Trade in services has emerged as a critical driver of global economic recovery, with China's total services trade volume surpassing $1 trillion for the first time in 2024. This milestone reflects robust growth in tourism and knowledge-intensive sectors such as IT, finance, and intellectual property services, which now account for 42% of the country's services trade.
"The CIFTIS platform demonstrates China's commitment to high-quality development and shared prosperity," stated a spokesperson from China's Ministry of Commerce. Analysts note that the fair's focus on digital transformation and green technologies aligns with global demand for sustainable economic solutions.
For investors, China's services trade expansion presents opportunities in emerging fields like cloud computing and cross-border e-commerce. The sector's growth also supports domestic consumption upgrades, with cultural and entertainment services seeing 18% year-on-year growth in 2024.
