China aims to create the world's leading digital economy

[moniya12]

PRC.TODAY Portal - The 2021 China International Fair on Trade in Services (CIFTIS) opened in Beijing on September 2 and ran until September 7. More than 10,000 enterprises from over 150 countries and regions participated in various online and offline formats.

CIFTIS is one of the largest economic events since the onset of the COVID-19 pandemic last year and the only fair that comprehensively covers the 12 trade and services sectors defined by the World Trade Organization. This year, CIFTIS aims to reinvigorate globalization by promoting the digital economy as its main driver.

Chinese President Xi Jinping proved how important the fair was by taking time out of his busy schedule to address attendees briefly via video. Although it was only for a few minutes, it contained a wealth of important information directly related to the conference theme of “Digital Future and Service-Based Development.”

The Chinese leader's most sensational announcement concerned spain telegram number database his country's plans to open a new Beijing Stock Exchange to help innovation-focused small and medium-sized enterprises (SMEs).

President Xi has stressed the crucial role such companies will play in continuing his country's trend toward opening up, with some likely to take part in digital trade pilot zones he has also announced will be set up across the country.

As part of China's national focus on the digital economy, the country also plans to align domestic regulations with those of high-level international free trade agreements. All of this will accelerate China's opening-up process and complement its new dual-circulation development paradigm.

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This strategy will be greatly assisted by prioritizing cross-border trade in services across the country, in parallel with expanding support for the services sector in Belt and Road Initiative (BRI) countries . The long-term vision articulated by President Xi is for China to become the leader of the global digital economy.