CRI听力:Beijing fair to highlight China's growing services trade

The fifth session of the China Beijing International Fair for Trade in Services is due to open in the Chinese capital on Monday. The fair has become a magnet for international exhibitors eying a bigger market share.

With the theme "openness, innovation, and integration," this year's event is attracting businesses from around the world.

"The fifth fair has attracted more businesses from around 120 countries and regions. Among the participating delegations, 25 come from 46 countries along the Belt and Road. 60 countries and regions have formed groups to join the showcase, an increase of 26 from the last fair. 28 special seminars and activities for countries and regions will be held, 13 more from the last fair," explained Yan Ligang, from Beijing's Commerce Commission.

He added that the fair will feature Belt and Road cooperation, opening up and innovation in the service sector, and integration among different service-related industries.Meanwhile, a showcase marking the 40th anniversary of China's reform and opening up will be put on.

Ding Huiru from China's Ministry of Commerce said that the services trade in China has been steadily growing in recent years and reached 4.7 trillion yuan last year, representing a 6 percent increase from 2016 and ranking second in the world four years in a row.

"First, the proportion of foreign trade volume in the services trade hit record highs, amounting to 15.9 percent in the first quarter. Second, the service export drives the whole service trade sector. The export of new services adds up to nearly 220 billion yuan, up 24.1 percent year on year. Third, growth has been particularly strong in high-end services trade, including trades for intellectual property rights," said Ding. 

More than 130 seminars, meetings and trade activities have been planned for this year's fair, with an exhibition area covering 50,000 square meters. The offshore exhibition area gathers delegations from 37 countries and regions, including the United States, Japan, Switzerland and Australia. The domestic exhibitors hail from 31 provinces, autonomous regions and municipalities, including Ningbo, Xiamen, Qingdao, Shenzhen and Shenyang.

More than 7,500 domestic and international companies have participated in the last four sessions of the services trade fair, attracting an audience of around half a million merchants from 173 countries. The session this year will run from May 28 through June 1.