Policymakers placing greater emphasis on services sector

China's ongoing efforts to deepen its opening-up will position trade in services as a powerful driver of economic growth and a source of long-term competitive strength, said market watchers and business leaders.

Amid rising geo-economic fragmentation and subdued demand for goods in certain parts of the world, policymakers are placing growing emphasis on the services sector, including digital trade, finance, healthcare and tourism, to revitalize the global economy and enhance international cooperation, they said.

In contrast to goods trade, trade in services refers to the sales and delivery of intangible services such as transportation, tourism, telecommunications, advertising, education, computing and accounting.