A brief introduction to China's service trade
Global service trade has been growing faster than the trading of goods, accounting for around 20 percent of the total trade, and it is expected to reach a third by 2040. Service trade has become the focus of China's opening-up. In 2016, China established 15 service trade innovative pilot zones, including Shanghai and Hainan. Beijing and Xiongan were added to the list in mid-2018. This August, the State Council made the number of the pilot zones to 28, including the city of Wuhan. To boost services trade, the Chinese government will accelerate the negative list's drafting pace for cross-border services trade and put into practice by the end of this year.
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