Xi's CIFTIS speech draws positive reactions

President Xi Jinping's call on Saturday for joint efforts to safeguard the hard-won free trade and multilateral trading system has consolidated Ernst & Young Global Ltd's confidence to deepen its presence in the Chinese market.

EY has been dedicated to leveraging its professional expertise in aims to build a mutually beneficial ecosystem in the Chinese market since its entry to the country 55 years ago. Through the platform of the China International Fair for Trade in Services, we look forward to collaborating with our domestic and international partners to create new dimensions for offering services in China and contribute our efforts to the establishment of an open, inclusive, equitable and balanced global economy.

China has emerged as a catalyst for the upgrading of global consumer demands, showcasing the robust resilience of its economy and also injecting vitality into worldwide economic growth. During the first half of 2023, the country's service trade has garnered remarkable achievements, ranking at the forefront on a global scale. This accomplishment is attributed to the profound adjustments in economic structure and the optimization and upgrading of industrial composition.

In the current global economic landscape characterized by recovery, China has strategically positioned itself to bolster its "dual circulation" development pattern, with a particular focus on advancing service trade. The ongoing deepening of China's openness in the service sector serves as a pivotal element in securing its domestic economic development. The country's vibrant growth of service trade, driven by the forces of decarbonization and digitization, presented a reference for the rest of the world.