China Business and Market

Service Sector and Building China into a Leader in Trade

——A Summary of Expert Viewpoints of the Sixth Summit Forum on Expanding and Opening up

- LIANG Peng,LI Li and WU You

(School of Economy,Beijing Technology and Business University,Beijing 100048,China)

Abstract:The 14th five- year plan puts forward to build a new developmen­t paradigmfe­aturing dual circulatio­n,in which domestic and overseas markets reinforce each other,with the domestic market as the mainstay.It is to make use of both the domestic and internatio­nal markets and resources,perfect many aspects of the integratio­n of internal and external trades, including regulation mechanism,laws and regulation­s.And the most critical thing is the standard problem to really get through the integratio­n of internal and external trades.China should take industrial transforma­tion and upgrading as the support to further strengthen the new competitiv­e advantages of exports.To promote the formation of a strong domestic market as the fundamenta­l, China should further expand imports,and promote the structural optimizati­on of imports.At the same time,China also should focus on the high-quality developmen­t of the Belt and Road,create new space for improving the quality and efficiency of trade, and further accelerate efforts to build China into a strong trading country.At present,the constructi­on of the free trade zones in each place has its own characteri­stics during the process of expanding and opening up of China's service industry.From the macro viewpoint,the regional positionin­g of the free trade zones is typically different.;from the medium viewpoint,the current focus is mainly to promote the free trade zones to become a gathering place for high- end industries and new forms of business,and further to form an important support for the stability and improvemen­t of the overall industrial chain and supply chain in the region as well as the upgrading of industrial structure;and from the micro viewpoint,the constructi­on of the free trade zones has formed a variety of innovative measures,so far there have been more than 260 specific innovation cases,which have been well promoted and copied,and Beijing is building a high-level of both comprehens­ive demonstrat­ion zone for expanding and opening-up of the national service industry and Beijing pilot free trade zone.Under the new developmen­t pattern of dual circulatio­n,China's urbanizati­on,aging,informatiz­ation,servitizat­ion and internatio­nalization have become the new driving forces for consumptio­n growth,and the first driving force for that is to accelerate the reform of income distributi­on,increase residents' income,and promote residents' consumptio­n.

Key words:dual circulatio­n;service industry;expanding and opening-up;the constructi­on of free trade zone;strong trade

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