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China Commits to Innovation-Driven Development

BEIJING 2nd September, 2023 (WAM) — In a recent address to the Global Trade in Services Summit at the 2023 China International Fair for Trade in Services, Chinese President Xi Jinping emphasised China’s commitment to bolstering innovation-driven development.

The President announced China’s intention to accelerate its efforts in fostering new growth avenues, especially focusing on the digitalisation of service trade. This includes rolling out pilot reforms centered on foundational systems for data. Through such reforms and innovative measures, Xi envisions a robust expansion of digital trade.

Highlighting environmental concerns, President Xi also revealed plans for the establishment of a national trading market dedicated to voluntary greenhouse gas emission reduction. He underscored the significance of the services industry in championing green development.

Furthermore, in a bid to fuel more innovation, China aims to harmonize the growth of service trade with advancements in modern service industries, high-end manufacturing, and contemporary agriculture.

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