Xiamen on list of national demonstration zones for trade in services

The Ministry of Commerce released the Overall Plan for Building National Demonstration Zones for the Innovative Development of Trade in Services on April 27, designating 16 cities across China, including Beijing, Tianjin, Shanghai and Xiamen, as well as South China's Hainan Province, as the pacesetters to embark on this initiative.

Xiamen stands out as the only city in Fujian Province to make the list, offering it a coveted national-level strategic opportunity for the high-quality development of trade in services. This initiative is set to help the city further develop replicable and scalable "Xiamen models" in areas such as institutional openness and industrial innovation and upgrading.

Moving forward, Xiamen will leverage its unique geographical location and industrial strengths to achieve major breakthroughs in the five core tasks of the demonstration zones set forth in the Plan.

1. Driving integrated innovation in industrial and supply chains. We will deepen the integration of digital technologies with the real economy, strengthen the exports of producer services in areas such as international shipping, cross-border logistics, biopharmaceutical R&D, and aviation maintenance. We will also expand the exports of consumer services, including inbound tourism, international education, and traditional Chinese medicine services.

2. Nurturing and expanding market players. Priority support will be offered to leading service export enterprises, "hidden champions" and "little giant" enterprises. We will also broaden financing channel, and enhance export credit and insurance support.

3. Ensuring the efficient cross-border supply of factors of production. We will facilitate cross-border settlements, personnel mobility, intellectual property protection, and enhance the secure and orderly cross-border flow of data.

4. Leading high-standard institutional opening-up. We will align with the most demanding international rules, ease restrictions on cross-border trade in service, and enhance regulatory transparency.

5. Establishing an institutional framework that helps domestic and international markets reinforce each other. We will deepen cooperation under the Belt and Road Initiative, and foster coordinated development by synergizing with key platforms including the pilot free trade zone and free trade ports.

Source: Xiamen Foreign Affairs