From Sep 10 to 14, Beijing is buzzing with CIFTIS 2025, the world’s biggest service trade fair! This year’s theme, "Digital Intelligence Leading, Revitalizing Service Trade," is all about how tech and services are reshaping the global market 🌐💡.
From Showcase to Collaboration Hub 🤝
Since its debut in 2012, CIFTIS has drawn nearly 1.19 million participants from 198 countries and regions, plus over 800 international business groups. It’s both a window on China’s service achievements and a hub for global cooperation.
Modern Services: China’s New Growth Engine 🚀
China is moving beyond the “world’s factory” label by tapping into knowledge- and tech-intensive services like fintech, telecom, healthcare, edtech, IT, cultural and creative industries, plus R&D and design. Here, what you pay for isn’t a physical product but expertise, talent and innovation.
Back in 1994, services made up just 34.7% of China’s GDP. Fast-forward to 2024, and that’s jumped to 56.7%. Service trade hit 7.5 trillion yuan last year—a 14.4% increase—locking in China’s spot as the world’s #2 in this arena. Digital and knowledge services are sprinting ahead, and China is leading in some key fields.
Why does this matter for all of us? When a country’s per capita GDP crosses $10k, people start spending more on experiences—think wellness retreats in Bali, online learning platforms or curated cultural tours—rather than just goods. As global competition heats up, there’s huge room for China’s service exports to grow.
In the 20th century, factories and shipping defined economies. The 21st century? It’s all about software, data, design and culture. China’s pivot to services isn’t just a stats shift—it’s a strategic move into a vast new “blue ocean” of opportunities. 🌊
Reference(s):
cgtn.com
