Core Insights - The Ministry of Commerce and nine other departments released measures to promote service exports, focusing on fiscal, financial, and regulatory aspects [1][2] - The measures include 13 specific initiatives aimed at enhancing support for key areas and projects in service exports [1] Fiscal Policy - The measures emphasize utilizing existing funding channels to increase support for key sectors and projects in service exports [1] - There is a focus on leveraging the Service Trade Innovation Development Guidance Fund to attract more social capital into service and digital trade [1] - The procedures for zero tax rate declaration for service exports will be optimized to improve the efficiency of export tax rebate applications [1] Financial Policy - The measures call for increased support for export credit insurance, enhancing the precision of related policies [1] - There is an emphasis on expanding financial services for small and medium-sized enterprises, improving the convenience of insurance services [1] Regulatory Facilitation - The measures propose improvements to bonded regulatory systems and facilitating personnel exchanges to boost inbound consumption [1] - Enhancements in the convenience of service trade fund settlements are also highlighted [1] - Encouragement for the transformation and transaction of intellectual property, as well as the promotion and regulation of cross-border data flow, is included [1] Service Trade Growth - Service trade in China shows strong growth potential, with total service trade imports and exports reaching 45,781.6 billion yuan, a year-on-year increase of 8.2% in the first seven months of the year [2] - Service exports amounted to 19,983 billion yuan, growing by 15.3%, which is 8 percentage points faster than the growth rate of goods exports during the same period [2]

Core Viewpoint - The Ministry of Commerce, in collaboration with eight other departments, has issued policies aimed at promoting service exports, focusing on optimizing visa policies for foreign investment enterprises and high-level talent [1] Group 1: Visa Policy Enhancements - The new measures include optimizing visa policies for foreign investment enterprises, research personnel, and high-level talent coming to China [1] - There will be a gradual expansion of the countries eligible for unilateral visa exemption for entry into China [1] - Continuous improvements will be made to the visa policies for foreigners entering China, including regional entry visa exemptions [1] Group 2: Facilitation of Inbound Consumption - The policies aim to enhance the convenience of inbound consumption for various activities such as tourism, family visits, medical care, conferences, competitions, study, and retirement [1]