A child experiences the entertainment project via immersive VR technology during the CIFTIS. XINHUA
From smart service robots to various 5G applications, a variety of products were shown at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing.
Running from Sept 4 to 9, the fair was the first large global trade event held both online and offline by China since the COVID-19 outbreak.
CIFTIS is one of the world’s largest and most comprehensive fairs for trade in services and has been held seven times since 2012.
This year, the trade show covered culture, tourism, finance, sports, robotics, education and 5G. More than 18,000 companies and institutions from 148 countries and regions joined. Overseas exhibitors and guests mainly attended the fair through online platforms due to the pandemic.
The fair included one comprehensive exhibition area and eight special exhibition areas. A special area for public health and epidemic prevention showed the inactivated vaccines and test kits for COVID-19 for the first time. Various robots were on display showing skills in cooking, delivering goods and performing surgeries.
Themed “Global Services, Shared Prosperity”, this year’s CIFTIS aimed to promote China’s new round of high-level opening-up and also the recovery of the global economy.
Despite disruptions caused by COVID-19, the growth of trade in services has injected new impetus into the economy, Xinhua reported.
In 2019, the value of the services industry accounted for 53.9 percent of China’s gross domestic product (GDP). According to a 2019 report by the World Trade Organization, the proportion of trade in services in global trade is expected to grow to one third by 2040.
As President Xi Jinping said in his speech to the Global Trade in Services Summit of CIFTIS via video on Sept 4, the service sector is “an increasingly important driver for development”. To overcome the difficulties the world is facing, President Xi called for all countries to work together, saying that “we hope to see more fruits from our practical cooperation so that people in different countries will all benefit from a growing trade in services”.