Core Viewpoint - The "Sanya International Forum and the Fifth Sanya Wealth Management Conference" highlighted the strong growth phase of service trade, particularly service exports, which are increasingly vital for economic growth in the context of rising trade protectionism [1][4]. Group 1: Service Trade Growth - Service exports grew by 14.2% from January to October 2024, with an expected annual growth of 18.2% [5][6]. - Travel service exports surged by 54.4%, driven by high-level unilateral open policies and visa exemptions for 75 countries [6][7]. - The contribution of service exports to nominal GDP growth reached 0.34% in the first three quarters of 2024, indicating a rising impact on economic growth [9]. Group 2: Industry Integration and Opportunities - The integration of service trade with secondary industries is enhancing service export growth, particularly in maintenance and repair services [7][9]. - The establishment of a maintenance base for international cruise ships in Hainan represents a significant opportunity for service exports [11]. - The digital economy is driving growth in data trade, which constitutes about 20% of service exports [8][9]. Group 3: Hainan Free Trade Port Advantages - Hainan's local product exports grew at an annual rate of 13.6%, surpassing the national average of 8.1% [10]. - Companies registered in Hainan experienced a 25.3% annual growth in exports, indicating the effectiveness of Hainan's geographical advantages [10][11]. - The service trade growth rate in Hainan from January to October was 84.6%, significantly higher than the national average of 5.8% [11]. Group 4: Emerging Sectors and Cultural Exports - Personal cultural entertainment service exports from Hainan increased by 20 times compared to the previous year, showcasing substantial growth potential [12]. - The financial sector in Hainan has seen a 16-fold increase in imports and a 4.6-fold increase in service exports, indicating a competitive edge in financial services [12][14]. - The overall service export dependency in Hainan is 6.2%, compared to the national average of 2.6%, highlighting Hainan's unique advantages in service trade [13].
中国服务贸易协会副会长赵晋平:服务出口对经济增长的拉动作用正逐步增强
Cai Jing Wang·2025-12-28 15:10