China International Fair for Trade in Services opens

The China International Fair for Trade in Services (CIFTIS) opened at the China National Convention Center in Beijing on Tuesday.

People talk with an exhibitor of the African exhibition area during the 2019 China International Fair for Trade in Services (CIFTIS) in Beijing, capital of China, May 28, 2019. [Photo/Xinhua]

This year's event will last through June 1, with more than 120 forums and 110 promotions and talks.

The fair has an exhibition area of 150,000 square meters, tripling that of last year's CIFTIS. The increase provides space for sub-venues that are new additions to the event.

The CIFTIS is co-organized by the Ministry of Commerce and the Beijing Municipal People's Government, and is jointly supported by the WTO, UNCTAD, and OECD.

According to Wang Bingnan, deputy minister commerce, the CIFTIS has approval of the Central Committee of the CPC and the State Council, and it is positioned as a "globally influential fair for trade in services." The fair's name was changed from the previous China Beijing International Fair for Trade in Services to reflect an upgraded exhibition event.

The main venue is set at the National Convention Center, the Beijing International Convention Center, and the Olympic Celebration Square. It has a total exhibition area of 70,000 square meters, with zones of achievements display area, international exhibition area, and special theme area for new services, new models, and new commercial activities.

The sub-venues are set in Dongcheng district's Wangfujing Walkway, Xicheng district's Financial Street, Chaoyang district's CBD, Haidian district's Zhongguancun, Shijingshan district's Shougang Park, the Tongzhou sub-center, Changping district's Huitian District, the China International Exhibition Center (Shunyi and Jing'anzhuang), and the Palace Museum.

Furthermore, the previously biennial event will be held annually starting this year. Event organizers said this move demonstrates the key role CIFTIS plays in China-hosted international fairs, as well as the great hopes pinned on it by the CPC Central Committee and the State Council, making it equally significant as the China International Import Expo and the China-ASEAN Exposition.

It involves 130 countries and regions including Germany and the U.K. as participants in the trade fair-eight more than last year. They also include representatives from 98 signatories to the Belt and Road Initiative with China, as well as the top 30 countries and regions of trade in services and 14 countries that signed Memorandums of Cooperation with China in that regard.

Thailand has been named the guest of honor at this year's event.

To date, 7,998 enterprises and institutions are on the list of participants, of whom 1,690 are exhibitors and 6,308 are visitors. They include 614 transnational corporations and industrial giants and 63 Fortune 500 companies, such as JP Morgan Chase, Schneider Electric, Panasonic, Huawei, China Unicom, and Alibaba.