Core Insights - The Chinese government is accelerating the implementation of policies to support service trade, focusing on innovation and new growth drivers in foreign trade [1][2] - The World Trade Organization (WTO) projects a 4% growth in global service exports by 2025, indicating a positive trend for service trade [1] - China's service trade has been growing rapidly, ranking among the top globally, but still has gaps compared to advanced levels [1] Policy Support - The State Council's recent meeting highlighted the need to enhance the international competitiveness of service exports, with specific focus areas including research, consulting, e-commerce, and digital services [2] - The Ministry of Commerce plans to optimize the zero tax rate declaration process for service exports and increase support for export credit insurance [2] - Traditional service sectors like transportation and travel are currently driving the growth of service exports, with transportation service exports reaching 418.5 billion yuan, up 23.9%, and travel service exports at 174.87 billion yuan, up 68.7% [2] Digital Trade Development - The development of digital service trade is prioritized, with a focus on cross-border e-commerce and the digital transformation of trade processes [3] - The Ministry of Commerce aims to promote and regulate cross-border data flow, enhancing international data service capabilities [3] - The reduction of the negative list for cross-border service trade is seen as a key measure to expand service imports [3] Implementation and Future Outlook - The Ministry of Commerce is actively monitoring the implementation of the negative list for cross-border service trade and addressing any issues that arise [4] - Increased support in fiscal, tax, financial, and regulatory aspects is expected to boost service trade, particularly service exports [5] - The overall outlook for China's service trade remains positive, with expectations of continued growth and structural optimization throughout the year [5]

Core Viewpoint - The Ministry of Commerce will soon introduce a series of policies to promote service exports, focusing on fiscal, financial, and regulatory facilitation measures [1][2]. Fiscal Policy - The Ministry plans to utilize existing funding channels to increase support for key areas and projects in service exports [1]. - There will be enhancements to the Service Trade Innovation Development Fund to attract more social capital into service and digital trade sectors [1]. - The process for zero tax rate declaration for service exports will be optimized to improve efficiency in export tax rebate applications [1]. Financial Policy - There will be an increase in support for export credit insurance, with a focus on improving the precision of these policies [1]. - Financial services will be enhanced for small and medium-sized enterprises, aiming to improve the convenience of insurance services [1]. Regulatory Facilitation - The Ministry will work on improving bonded supervision systems and facilitating personnel exchanges to boost inbound consumption [1]. - Efforts will be made to enhance the convenience of fund settlement in service trade and encourage the transformation and transaction of intellectual property [1]. - The promotion and regulation of cross-border data flow will be prioritized to accelerate the development of international data service businesses [1]. International Market Development - The Ministry will leverage service trade intermediary organizations to assist enterprises in exploring international markets and support participation in overseas exhibitions [2]. Service Consumption Expansion - Next month, the Ministry will introduce policies aimed at expanding service consumption, utilizing fiscal and financial tools to enhance service supply capabilities and stimulate new service consumption growth [2].

Macro News - The Ministry of Commerce will soon introduce a series of policy measures to promote service exports, focusing on fiscal, financial, and facilitation aspects to optimize the policy environment [1] Industrial Sector - In July, the profits of large-scale industrial enterprises decreased by 1.5% year-on-year, with the decline narrowing by 2.8 percentage points compared to June, marking two consecutive months of narrowing [2] - From January to July, the profits of large-scale industrial enterprises fell by 1.7% year-on-year, with the decline narrowing by 0.1 percentage points compared to the first half of the year [2] Service Sector - The Ministry of Commerce aims to include more service consumption areas in the encouraged foreign investment industry catalog, addressing the issue of insufficient high-quality service supply [3][5] - The Ministry will promote the expansion of high-quality service supply through "internal opening and external opening," and will expand pilot programs in telecommunications, healthcare, and education [5] - The initiative aims to stimulate innovation and reform in the service consumption sector, enhancing the vitality of various business entities and better meeting consumer demand in areas such as health, elderly care, childcare, and housekeeping [5]

Group 1 - The 2025 Service Trade Fair will be held in Beijing from September 10 to 14, with preparations nearly complete [1] - The Ministry of Commerce plans to introduce a series of policies to promote service exports, focusing on fiscal, financial, and facilitation measures [1][11] - In the first half of the year, China's total service trade reached 3.9 trillion yuan, a year-on-year increase of 8% [3] Group 2 - Service exports amounted to 1.7 trillion yuan, growing by 15%, and accounted for 11.5% of total exports, up 0.7 percentage points from the previous year [3] - The growth in service exports is primarily driven by traditional sectors such as transportation and travel, with transportation services exporting 418.5 billion yuan (up 23.9%) and travel services exporting 174.87 billion yuan (up 68.7%) [7] - Knowledge-intensive service exports reached 865.04 billion yuan, growing by 7.8%, with significant contributions from other business services and telecommunications, which saw exports of 416.33 billion yuan and 377.16 billion yuan, growing at 6.9% and 14.6% respectively [10]

Core Viewpoint - The 2025 Service Trade Fair will be held in Beijing from September 10 to 14, showcasing over 190 key achievements in service trade, including 91 globally and nationally debut services, aimed at expanding high-quality service imports [1][3]. Group 1: Event Details - The fair will feature participation from over 50 countries and more than 20 international organizations, highlighting local leading enterprises and their unique service trade characteristics [3]. - The event will utilize distinctive venues such as Shougang Park, planning over 40 supporting activities including cultural markets, gourmet food, performances, and classic sports exhibitions [3]. Group 2: Policy Measures - The Ministry of Commerce will introduce several policy measures to expand service consumption, utilizing fiscal and financial tools to enhance service supply capabilities [5]. - New policies will promote comprehensive pilot demonstrations for service industry openness, expanding trials in telecommunications, healthcare, and education sectors [5]. Group 3: Financial and Tax Policies - In terms of fiscal policy, there will be increased support for key areas and projects in service exports, leveraging existing funding channels [7]. - The export tax refund application process will be optimized to improve efficiency [7]. Group 4: Financial Support - There will be enhanced support for export credit insurance, with a focus on improving service accessibility for small and medium-sized enterprises [9]. Group 5: Regulatory Facilitation - The regulatory framework will be improved to facilitate customs supervision, enhance personnel exchanges, and promote inbound consumption [11]. - Efforts will be made to encourage intellectual property transactions and facilitate cross-border data flow [11]. Group 6: International Market Development - The role of service trade intermediary organizations will be emphasized to assist enterprises in exploring international markets and participating in overseas exhibitions [13].

Group 1 - The core viewpoint of the article is the introduction of a series of policies aimed at promoting service exports in China, as announced by the Ministry of Commerce [1] - The Ministry of Commerce will collaborate with relevant departments to implement these policies, focusing on fiscal and financial facilitation to enhance the service export environment [1] - The announcement was made during a press conference held by the State Council Information Office, highlighting the progress of service trade development and preparations for the 2025 Service Trade Fair [1]

Core Viewpoint - The Chinese government is set to introduce a series of policies aimed at promoting service exports and expanding service consumption, highlighting the significant growth potential in these areas for domestic demand and international trade [1][5]. Service Trade Growth - In the first half of the year, China's total service trade reached 3.9 trillion yuan, marking an 8% year-on-year increase, which is 5.1 percentage points faster than the growth rate of goods trade [3]. - Service exports amounted to 1.7 trillion yuan, growing by 15%, with service exports accounting for 11.5% of total exports, an increase of 0.7 percentage points from the previous year [3]. - The rapid growth in service exports is primarily driven by traditional sectors such as transportation and travel, with transportation services exporting 418.5 billion yuan (up 23.9%) and travel services exporting 174.87 billion yuan (up 68.7%) [3]. Policy Measures - The Ministry of Commerce plans to introduce new policies covering fiscal, financial, and regulatory aspects to further support service exports [5][7]. - Specific measures include enhancing support for key service export sectors, improving tax refund processes, and facilitating international market expansion for enterprises [10][11]. Service Consumption Expansion - Service consumption is recognized as a crucial component for expanding international trade and boosting domestic demand [9]. - The Ministry of Commerce aims to enhance service supply by focusing on high-quality services and expanding areas such as health, elderly care, and domestic services [12]. Upcoming Events - The China International Fair for Trade in Services (CIFTIS) is scheduled for September 10-14, featuring nearly 2,000 exhibitors, including around 500 Fortune 500 companies [14]. - The event will showcase over 190 new products and innovations, emphasizing high-quality service supply and promoting commercial value [14][15].

Core Viewpoint - The article emphasizes the significant growth potential of service consumption in expanding domestic demand and international trade, highlighting upcoming policies to promote service exports and consumption [1][2]. Summary by Sections Service Export Growth - In the first half of the year, China's total service trade reached 3.9 trillion yuan, a year-on-year increase of 8%, outpacing the growth rate of goods trade by 5.1 percentage points [3]. - Service exports amounted to 1.7 trillion yuan, growing by 15%, with their share in total exports rising to 11.5%, an increase of 0.7 percentage points from the previous year [3]. - The rapid growth in service exports is primarily driven by traditional sectors such as transportation and travel, with transportation services exporting 418.5 billion yuan (up 23.9%) and travel services exporting 174.87 billion yuan (up 68.7%) [3]. Global Service Trade Outlook - The WTO projects a 4.0% growth in global service exports by 2025, with significant growth expected in travel and other key sectors [4]. - China's travel service trade exceeded 1 trillion yuan in the first half of the year, with a growth rate of 12.3%, and is expected to maintain rapid growth throughout the year [4]. Policy Support for Service Exports - The Ministry of Commerce plans to introduce a series of policies to enhance service exports, focusing on fiscal, financial, and regulatory support [5][6]. - Specific measures include optimizing tax refund processes, increasing export credit insurance support, and facilitating international market expansion for service trade [6]. Expansion of Service Consumption - Service consumption is identified as a crucial area for boosting domestic demand and consumption [7]. - From January to July, retail sales of consumer goods reached 28.4238 trillion yuan, with service retail sales growing by 5.2% [8]. - The Ministry of Commerce aims to enhance service supply and stimulate consumption through various policy initiatives, including targeted support for sectors like elderly tourism and health services [8][9]. Upcoming Events and Innovations - The China International Fair for Trade in Services (CIFTIS) is set to showcase over 190 new products and innovations, with participation from nearly 2000 enterprises, including 500 Fortune Global 500 companies [10]. - The event will feature numerous forums and discussions on cutting-edge topics, promoting high-quality service brands and innovative solutions [11].

Core Viewpoint - The overall service trade in China is expected to maintain growth throughout the year, with continuous optimization of trade structure [1][2][3] Group 1: Service Trade Performance - In the first half of the year, China's total service import and export reached 3.9 trillion yuan, a year-on-year increase of 8% [1] - Service exports amounted to 1.7 trillion yuan, growing by 15%, with a share of 11.5% in total foreign trade exports, up 0.7 percentage points from the same period last year [1] - The rapid growth in service exports is primarily driven by traditional service sectors such as transportation and travel, with transportation service exports at 418.5 billion yuan (up 23.9%) and travel service exports at 174.87 billion yuan (up 68.7%) [1] Group 2: Future Opportunities - The service trade development in the second half of the year is expected to benefit from global growth, with the WTO projecting a 4% increase in global service exports by 2025 [2] - The travel sector is anticipated to see significant growth, with over 1 trillion yuan in travel service import and export in the first half, a growth rate of 12.3% [2] - Knowledge-intensive service imports and exports are expected to maintain the growth rate seen in the first half of the year [2] Group 3: Policy Support - The Ministry of Commerce plans to implement various policy measures to promote service exports, focusing on fiscal, financial, and regulatory facilitation [3] - Financial policies will include enhanced export credit insurance support and improved financial services for small and medium-sized enterprises [3] - Regulatory measures will aim to streamline customs supervision, facilitate personnel exchanges, and promote international data service business [3][4]

Group 1 - The total service trade import and export volume in China reached 3.9 trillion yuan in the first half of the year, with a year-on-year growth of 8% [1] - Service exports amounted to 1.7 trillion yuan, increasing by 15%, and accounted for 11.5% of total exports, up by 0.7 percentage points from the previous year [1] - The Ministry of Commerce is set to release new policies to promote service exports, focusing on fiscal, financial, regulatory, and international market development measures [1][2] Group 2 - In fiscal policy, there will be increased support for key areas and projects in service exports, and improvements in the zero tax rate declaration process for service exports [2] - Financial policies will enhance export credit insurance support and improve financial services for small and medium-sized enterprises [2] - Regulatory measures will include optimizing customs supervision, facilitating personnel exchanges, and promoting cross-border data flow [2]