BEIJING: China’s deeper opening-up of the services sector is set to bolster the global competitiveness of Chinese service providers and generate new growth opportunities for the business community.
That’s according to market analysts and business executives.
Rather than merely aim to narrow its services trade deficit, China is poised to make more room for both imports and exports, via wider market access and regulatory liberalisation.
Digital services, technology-intensive services and other emerging segments are expected to prove the key drivers behind the services trade growth, experts have noted.
The comments came ahead of the 2026 China International Fair for Trade in Services, which will open today in Beijing and through Sunday.
Around 90 countries, regions and international organisations are to stage exhibitions or events through Sunday, while more than 1,800 companies will participate offline, underscoring the fair’s role as a key platform for opening up China’s services sector and for international cooperation.
Unlike trade in goods, services trade involves cross-border transactions in activities ranging from transportation and tourism to telecommunications, computing, education and professional services.
In a congratulatory letter to the 2025 China International Fair for Trade in Services, held in Beijing last year, President Xi Jinping said China will remain firmly committed to expanding high-standard opening-up.
Furthermore, he also noted that there would be an accelerattion of the opening of its services market in an orderly manner on platforms, including pilot free trade zones and national demonstration zones for the innovative development of trade in services.
China is ready to work with all parties to jointly promote open and innovative cooperation in global trade in services, build an open world economy, and continuously inject new impetus into building a community with a shared future for humanity, Xi said.
China’s trade in services totalled nearly 4.45 trillion yuan (US$663bil) in the first seven months of 2026, up 8.3% year-on-year (y-o-y), data from the Commerce Ministry showed.
Services exports rose 17.1% y-o-y to over 1.77 trillion yuan.
Services imports reached 2.67 trillion yuan, up 3.2% from a year earlier.
The country’s services trade deficit stood at 900.25 billion yuan in the first seven months of this year.
Analysts and government officials said China’s services trade should not be judged solely by the size of its deficit, as shifts in the composition of imports and exports point to a broader structural transformation.
They added that the country’s growing demand for high-quality services is creating substantial opportunities for businesses worldwide. — China Daily/ANN
