By Zhang Qi, Wang Jinzhao & Zhao Fujun, Research Team on “The Strategy of Enhancing the Competitiveness of China's Service Trade”, Department of Foreign Economic Relations, DRC

Research Report, No.165, 2019 (Total 5665) 2019-9-18

Abstract: In the face of the new trend of the rapid development of global service trade, according to the analysis of China’s international competitiveness and the existing problems in its service trade, in order to meet the needs of China’s high-quality economic development and the construction of a modern economic system, it is urgent to enhance China’s international competitiveness in service trade and comprehensively raise the strategic position of service trade in an open economy, following the strategic thinking of “seizing opportunities to innovate; promoting competition based on advantages; relying on manufacturing to optimize the business environment; and preventing the enlarging risks”. To this end, we need to take the two opportunities of the new technological revolution and the service-oriented development of the manufacturing industry and accelerate the integrated and innovative development of information technology, digital economy and service trade. Focusing on opening-up and reducing domestic regulations, and centering on the development needs of the whole service trade industry chain, we need to speed up innovation in management system and regulatory modes and to bolster fiscal, taxation and financial support in these respects. By further improving the business environment and participating in the formulation of international economic and trade rules, China will give full play to its advantages as a world major trading country with a large economic size, tap the potential effects of trade in goods and cross-border investment, so as to promote the transformation and upgrading of China’s service trade and enhance its international competitiveness.

Key words: service trade, competitiveness, strategic thinking