France's Schneider Electric unveiled a "new quality service system"; Germany's Siemens unveiled the world's first CT scanner with photonic counting; Dutch accounting firm KPMG delivered three first-time earnings reports...
At the China International Services Trade Fair 2025, which ended on September 14, reporters got a personal taste of the new momentum that digital and smart technology is bringing to the services trade. Deputy Director-General of the Australian Trade and Investment Commission Daniel Boyerwho has attended the fair several times, said with admiration that he was deeply impressed by this wonderful event and that services are "an indispensable driving force in the development of Australia-China relations".
Daniel Boyer's feelings are not unique. Today, trade in services has become the new engine of growth for the global economy and trade. This year's fair attracted 85 countries and international organizations exhibiting and hosting events, nearly 500 Fortune Global 500 companies and industry-leading enterprises, and more than 900 results were achieved. The main host country, Australia, assembled the largest exhibition group in its history.
Commercial Representative of the Australian Embassy in China, Dominic Trindade, said that in the current world of uncertainty, the fair has greatly promoted exchanges and mutually beneficial cooperation among stakeholders. The ever-expanding "group of friends" confirms the words that Chinese President Xi Jinping said in his congratulatory message for this year's fair: "China will unwaveringly expand its high-level openness."
Data shows that in 2024, China's total services trade volume will exceed $1 trillion for the first time, an all-time high that ranks second in the world. Among them, the trade volume of knowledge-intensive services characterized by digitalization, intelligence and greening increased by 38 % compared with 2020, making "digital and intelligent" innovation the keyword of this edition of the fair.
Foreign firms that are increasing investment in China are also targeting the super-sized market. Currently, China has become one of the top three trading partners for 157 countries and regions, and is the largest trader of goods and the second largest trader of services in the world. The Trade Representative of the Australian Embassy in China, Dominic Trindade, believes that the Chinese economy is stable, transparent and full of innovative vitality, "which makes him a trusted business partner".
At this year's services fair, China announced a number of measures, including "accelerating pilot tests on platforms such as free trade test zones and innovative demonstration zones for the development of trade in services at the national level" a "gradually opening up the market for services and promoting the high-quality development of trade in services". This strengthened the confidence of foreign companies in further development.
The series of international trade fairs fully proves that open cooperation is what people want and that unilateralism and protectionism have no future. Through the series of fairs, the world not only sees more "new" ideas in China's economy, but also feels China's determination to work together with the world to develop and build an open world economy.
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