Global efforts to buoy services trade

China plans more steps to encourage transnational cooperation in sector

China's sustained efforts to promote international trade in services will foster better relations between nations and promote a faster recovery of the global economy from the COVID-19 pandemic, a Commerce Ministry official said on Wednesday.

"China will work to optimize the mechanism to attract investment in the services sector and promote the creation of a global alliance for trade in services … the Ministry of Commerce will release the negative list for cross-border trade in services by the end of this year to support further opening-up in the sector," said Xian Guoyi, head of the department of trade in services and commercial services under the Ministry of Commerce.

Xian made the remarks during the closing ceremony of the 2020 China International Fair for Trade in Services on Wednesday. The six-day fair, which was China's first major international offline trade event since the COVID-19 outbreak, saw over 240 deals being signed.