In recent years, China’s trade in knowledge-intensive services has maintained steady growth. From January to November 2021, the total trade reached RMB2042.8 billion, up 13.5% year-on-year, with export and import rising by 18.1% and 8.3% respectively. This steady growth was mainly attributable to three factors:

First, significantly increasing international competitiveness. The swift development of China’s emerging service sectors and significant increase in quality and efficiency of services delivery, as well as export competitiveness, have laid a solid foundation for injected impetus into knowledge-intensive trade growth. From January to November 2021, the export of telecommunication, computer and information services, charges for the use of intellectual property, and other business services rose by 23.3%, 29.3%, and 14.2% respectively.

Second, massive digitization demand arising from rapid development of digital technologies. Online delivery and online sales, including audiovisual, medical, education, and online retailing services, have seen a surge. From January to November 2021, the import and export of personal cultural and recreational services increased by 11.8%; Thanks to the massive adoption of digital payment, the trade of financial and insurance services jumped by 30.3% and 8.2% respectively.

Third, new momentum from larger-scale reform and opening-up in the service sector. Steady progress was seen in the pilot program of all-round innovative development of the services sector, with 110 out of the 122 specific measures, or more than 90% of the total, have been implemented; policies have been rolled out to support outsourcing and high-quality development of bases for featured services export, and international cooperation on services trade has been deepening; foreign investment access to the service sector has been expanding, China’s market environment has been improving, and its super-sized domestic market has been playing a bigger role.

In 2022, the international landscape for China’s service trade development will continue to be complex and challenging, with numerous uncertainties and instabilities. Meanwhile, the overall trend remains unchanged, including higher-level opening-up of the service sector, faster digitization, and sound and stable development of trade in services such as knowledge-intensive types. In the next step, we will steadily progress with the implementation of the Plan for the Development of Trade in Services during the 14th Five-Year Plan Period, accelerate institutional opening-up, build national demonstration zones for the innovative development of trade in services and demonstration zones of digital trade, continue to hold successful CIFTIS sessions, and improve international cooperation and promotion mechanisms, so as to advance openness, innovation, and high-quality development. Thank you.