Global leaders and economists at the 2025 China International Fair for Trade in Services (CIFTIS) are spotlighting the sector's pivotal role in reshaping the nation's economic landscape. With artificial intelligence accelerating innovation, China's services trade volume surpassed $1 trillion for the first time in 2024 – a milestone signaling its transition to tech-driven growth.
"The services sector is China's new frontier for productivity," said Marshall Mills of the International Monetary Fund during Thursday's forum. Financial services and commerce are leading this charge, with digitalization enabling cross-border trade in previously localized industries like education and healthcare.
While services now constitute over 50% of China's GDP, experts note room for expansion compared to developed economies. Tu Xinquan of the University of International Business and Economics observed: "Trade and industrial development are now reinforcing each other – stronger services boost trade demand, which in turn stimulates domestic consumption."
The Ministry of Commerce reports 6.7% average annual growth in services trade since 2012, outpacing goods trade by 1.7 times. Humanoid robots serving coffee and AI-powered tourism solutions at the Beijing exhibition embody this transformation. "Digitalization is erasing traditional trade barriers," stated Development Research Center's Long Guoqiang.
With China planning expanded openness in telecommunications, medicine, and cultural sectors, Vice Commerce Minister Sheng Qiuping emphasized: "Our next phase involves deepening global industrial collaboration through service trade partnerships." As CIFTIS concludes Sunday, the event underscores Asia's largest economy leveraging technological innovation to redefine its growth model.
