The digitization of the global economy has become a hot word for the upcoming China International Fair for Trade in Services, Securities Times reported.

 

With the title "Towards Digital Future and Service Driven Development", this year's CIFTIS will be held in Beijing from Sept 2 to 7 both online and off. As a major platform for the service trade in the country, the fair has six kinds of events, including global summits for trade in services, forums and conferences, exhibitions, promotions and negotiations.

 

A digital service exhibition zone will be set up during the fair this year for the first time, covering 11,000 square meters of the 130,000 in the exhibition area.

 

Digital services have become a new engine for global trade. The 2020 World Trade Report published by the World Trade Organization showed about 115 countries have unveiled digital-related policies, promoting digital production and innovation from different perspectives.

 

After several years' development, the market size of China's digital economy has reached 39.2 trillion yuan ($6.06 trillion), accounting for 38.6 percent of GDP, according to a white paper released by the China Academy of Information and Communications Technology.

 

Developing the digital economy has become a clear priority across society. Speeding up digital development and building up a digital China also have been set forth in the 14th Five-Year Plan and the Long-Range Objectives Through the Year 2035.

 

Beijing, the venue for this CIFTIS, has put a great deal of resources into digital development. According to a document published by the People's Government of Beijing, the city has set goals for the construction of a global leading city in digital economy in three phases.

 

By 2025, a data-driven high-quality development mode will be basically built up, the value-added for the digital economy will account for about 50 percent of regional GDP and join the ranks of global leading cities in digital economy, the document said.

 

Apart from the traditional venue of the China National Convention Center, this year's CIFTIS added a new venue, Shougang Park, a new city landmark on the grounds of a vacated industrial site in Shijingshan district.

 

The fair this year will hold eight enterprise exhibitions covering telecommunications, computer and information services, financial services, culture and travel services, education services, sports services, supply chains and business services, engineering consultation and construction services, and healthcare services. So far, more than 600 companies have signed up for these eight special exhibitions, according to organizers.