对外经济贸易大学校长赵忠秀作讲解。国务院副总理何立峰，国务委员王小洪、谌贻琴作交流发言。 李强在听取讲解和交流发言后指出，推进服务贸易创新发展是培育外贸新动能、加快建设贸易强国的重 要举措。近年来我国服务贸易发展较快，规模位居全球前列，但不少方面距离世界先进水平还有差距。 随着外部环境变化和我国产业结构调整，必须把加快服务贸易创新发展摆在更加重要的位置。 李强强调，要主动扩大优质服务进口，以高水平开放促进我国服务业高质量发展。要推动服务贸易制度 型开放，加强与国际高标准经贸规则对接，进一步压减跨境服务贸易负面清单，有序放宽服务领域市场 准入。要努力为服务进口营造良好环境，便利专业化人才跨境往来，优化跨境资金管理，促进数据跨境 有序流动。加快建设全国统一大市场，规范服务领域许可、资质和技术标准，破除各类隐性壁垒。要以 服务进口带动本土服务业发展，支持我国服务业企业在市场竞争中提升自身能力。 ● 新华社北京8月26日电 8月26日，国务院以"加快服务贸易创新发展，积极培育外贸发展新动能"为主题，进行第十五次专题学 习。国务院总理李强在主持学习时强调，要深入学习贯彻习近平总书记重要指示精神和党中央有关决策 部署，进 ...

● 新华社北京8月26日电 对外经济贸易大学校长赵忠秀作讲解。国务院副总理何立峰，国务委员王小洪、谌贻琴作交流发言。 李强在听取讲解和交流发言后指出，推进服务贸易创新发展是培育外贸新动能、加快建设贸易强国的重 要举措。近年来我国服务贸易发展较快，规模位居全球前列，但不少方面距离世界先进水平还有差距。 随着外部环境变化和我国产业结构调整，必须把加快服务贸易创新发展摆在更加重要的位置。 8月26日，国务院以"加快服务贸易创新发展，积极培育外贸发展新动能"为主题，进行第十五次专题学 习。国务院总理李强在主持学习时强调，要深入学习贯彻习近平总书记重要指示精神和党中央有关决策 部署，进一步凝聚共识、拓宽思路，扎实推动服务贸易高质量发展，为建设贸易强国、构建更高水平开 放型经济新体制提供有力支撑。 李强强调，要主动扩大优质服务进口，以高水平开放促进我国服务业高质量发展。要推动服务贸易制度 型开放，加强与国际高标准经贸规则对接，进一步压减跨境服务贸易负面清单，有序放宽服务领域市场 准入。要努力为服务进口营造良好环境，便利专业化人才跨境往来，优化跨境资金管理，促进数据跨境 有序流动。加快建设全国统一大市场，规范服务领域许可、 ...

风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 8月26日，国务院以"加快服务贸易创新发展，积极培育外贸发展新动能"为主题，进行第十五次专题学 习。李强指出，要依托我国比较优势，着力提升服务出口的国际竞争力，推动服务出口做大做强。要扩 大优势制造领域生产性服务业出口，引导优质制造企业逐步从产品制造商发展成为综合服务提供商，把 服务出口、货物出口更好结合起来，提升综合附加值。要积极推进新兴领域服务出口，依托人工智能、 生物医药、数字经济等方面创新优势，扩大科研、咨询、电商等服务出口，加快培育发展数字服务贸 易、"人工智能+服务贸易"等新业态新模式。要深入挖掘特色领域服务出口潜力，推动相关领域服务向 专业化、国际化迈进，面向海外需求打造一批优质品牌、精品力作。要进一步放大免签政策效应，吸引 更多外籍人士来华旅行消费，带动更多优质服务出海。（新华社） ...

Group 1 - The Chengdu Municipal Bureau of Commerce has officially issued the "2025 Measures to Support the Quality and Capability Improvement of Commercial Trade Enterprises," which includes 10 specific measures aimed at enhancing the vitality of business entities [1] - For wholesale enterprises with annual sales between 3 billion and 5 billion yuan and a year-on-year growth of over 20%, a one-time reward of 500,000 yuan will be granted; for those with sales between 5 billion and 10 billion yuan and a growth of over 15%, a reward of 1 million yuan will be provided [1] - Second-hand car dealerships that meet certain criteria will receive a reward of 0.5% of their sales, with a maximum of 2 million yuan, promoting the industry's development towards scale and branding [1] Group 2 - In support of foreign trade enterprises, the measures will cover up to 50% of the actual expenses for overseas marketing and overseas brand registration, with a maximum support of 500,000 yuan per enterprise [1] - Enterprises recognized as provincial-level or above cross-border e-commerce industrial parks or excellent overseas warehouse cases will receive a one-time reward of 500,000 yuan [1] - To mitigate the risks of going abroad, the measures propose a 50% premium support for export credit insurance for large enterprises, while small and micro foreign trade enterprises can enjoy interest subsidies of 50% and 60% for import-export trade financing and export credit insurance policy financing, respectively, with a maximum of 500,000 yuan [1] Group 3 - In the service trade sector, the measures specify that enterprises importing from the "Encouraged Import Service Catalog" with import amounts reaching 4 million USD will receive support at an annual interest rate of 0.2%, with a maximum of 300,000 yuan [2] - For offshore service outsourcing and software product export enterprises, interest subsidies will be provided based on the execution amount, with a maximum of 300,000 yuan [2]

Core Viewpoint - Shenzhen Municipal Bureau of Commerce has issued measures to promote high-quality development of service consumption, focusing on expanding openness in the service sector [1] Group 1: Service Sector Expansion - The measures aim to deepen the expansion of the service industry to foreign markets [1] - Support for pilot programs in the medical field, including biotechnology and wholly foreign-owned hospitals, to enhance openness [1] - Gradual relaxation or removal of restrictions on service trade under cross-border delivery, overseas consumption, and individual mobility models [1] Group 2: Market Access and Innovation - Continuous efforts to relax market access in telecommunications, education, elderly care, medical, and health services [1] - Active participation in the creation of national service trade innovation and development demonstration zones [1]

Core Viewpoint - The article discusses the establishment of the second phase of the Service Trade Innovation Development Guidance Fund, which aims to support the growth of service trade enterprises in China, particularly in the context of foreign trade and digital economy [2][8]. Fund Overview - The total scale of the Service Trade Fund Phase II is set at 10 billion yuan, with a duration of up to 15 years [4][3]. - Key contributors include the Ministry of Finance (2 billion yuan), Shenzhen Investment (1.9 billion yuan), and Hangzhou Industrial Investment (1.5 billion yuan), among others [4][5]. Investment Strategy - The fund will adopt a "mother fund + direct investment" approach, with at least 70% allocated to sub-funds and no more than 30% for direct investments [5][6]. - It will focus on key areas outlined in the "Guidance Catalog for Key Areas of Service Exports" and "Key Development Areas for Service Outsourcing," supporting new business models in health technology, cross-border e-commerce, and digital economy [6][7]. Historical Context - The Service Trade Fund is recognized as the first national-level mother fund in the foreign trade sector, initiated in 2016 to broaden financing channels for service trade enterprises [8][9]. - The first phase of the fund was established with a total scale of 30 billion yuan, primarily targeting digital economy and logistics technology [8]. Market Conditions - The fundraising environment for VC/PE in China remains challenging, with a significant decline in the number and scale of newly raised funds in 2024 compared to previous years [11][13]. - Government funding has become a primary source of capital, while private LPs have become increasingly cautious, impacting the overall fundraising landscape [13].

Investment Overview - Zhejiang China Commodity City Group Co., Ltd. has approved a capital contribution of 300 million RMB to participate as a limited partner in the establishment of the second phase of the Service Trade Innovation Development Guidance Fund [2][3] Partnership Agreement Details - The partnership aims to enhance the development of innovative service trade mechanisms and digital trade, leveraging fiscal funds to attract social capital for supporting service trade innovation [3] - The partnership has a maximum duration of 15 years, starting from the date of registration [4][15] - All partners will contribute in cash, with contributions made in installments as per the investment needs outlined by the general partner [5] - The general partner, China Merchants Capital Management (Beijing) Co., Ltd., will manage the partnership and execute partnership affairs [6] Investment Objectives and Strategies - The fund's investment targets include increasing capital or establishing investments in private equity funds related to service trade and digital trade, as well as direct investments in relevant enterprises [8] - Investments will be made through equity or equity-related debt instruments [9] Financial Management and Distribution - The partnership will distribute profits and losses based on the actual contributions of each partner, excluding management fees [10] - An investment decision-making committee will be established to oversee investment and exit decisions [11] Fund Basic Information - The fund is named the Service Trade Innovation Development Guidance Fund Phase II (Limited Partnership) and will operate in Hangzhou [14] - The fund will engage in private equity investments, investment management, asset management, and investment consulting activities [14]

Core Insights - China's service trade showed strong resilience and vitality in the first four months of 2025, with a total import and export value of 26,320.6 billion yuan, a year-on-year increase of 8.2% [1][2] - Knowledge-intensive service trade is steadily growing, indicating significant results from the optimization and upgrading of China's economic structure, positioning service trade as a new growth point in foreign trade [2][3] - Travel services experienced the fastest growth, with imports and exports reaching 7,567.8 billion yuan, a growth of 14.7%, making it the largest sector in service trade [1] Service Trade Performance - Total service trade import and export value reached 26,320.6 billion yuan, with exports at 11,285.2 billion yuan (up 14.6%) and imports at 15,035.4 billion yuan (up 3.9%) [1] - The service trade deficit decreased to 3,750.2 billion yuan, a reduction of 875.6 billion yuan compared to the previous year [1] Knowledge-Intensive Services - Knowledge-intensive service trade reached 10,163.6 billion yuan, growing by 5.5%, with significant contributions from other business services and telecommunications, computer, and information services [1] - Exports of knowledge-intensive services amounted to 5,902.4 billion yuan (up 6.1%), while imports were 4,261.2 billion yuan (up 4.6%), resulting in a surplus of 1,641.2 billion yuan, an increase of 152.6 billion yuan year-on-year [1] Policy and Development - Recent policies from cities like Shanghai, Beijing, and Shenzhen aim to promote high-quality development in digital and service trade, reflecting a commitment to enhancing international competitiveness [2] - Experts suggest that accelerating the development of technology-intensive services and improving the openness of the service sector will be crucial for enhancing international competitiveness and reducing trade deficits [3]

Core Viewpoint - The "Implementation Plan for Boosting Consumption in Guangdong Province" outlines 31 measures aimed at expanding consumer demand and significantly boosting consumption across various sectors [1] Group 1: Employment and Income Growth - The plan aims to create over 1.1 million new urban jobs by 2025, with initiatives to promote stable wage growth and expand income channels for residents [2][7] - Specific measures include the "Million Talents Gather in Guangdong" initiative to attract 1 million college graduates for employment and entrepreneurship [2][7] - The plan also emphasizes support for families with multiple children through enhanced maternity and childcare services [2] Group 2: Service Consumption Enhancement - The plan focuses on improving services for the elderly and children, including the establishment of senior dining facilities and childcare centers [3][8] - It encourages the development of inbound tourism and service industry openness, particularly in cities like Guangzhou and Shenzhen [3][9] - The initiative aims to enhance the quality of service consumption and promote international consumption center city development [3] Group 3: Large-scale Consumption Support - The plan expands support for vehicle replacement and updates, including subsidies for scrapping older vehicles and promoting the trade-in of household appliances [4] - It outlines plans for the renovation of old residential communities and the upgrade of elevators in residential buildings [4] Group 4: New Consumption Development - The plan promotes new types of consumption, including low-altitude and cruise yacht consumption, and supports the development of the Nansha International Cruise Home Port [5][10] - It encourages flexible vacation policies and the reduction of vehicle purchase restrictions to stimulate consumer spending [5][6]

Core Insights - The recent policies from Shenzhen and Guangzhou aim to accelerate the development of service trade and cultivate new momentum for foreign trade, reflecting a strategic response to the evolving global service trade landscape [1] Group 1: Policy Initiatives - Shenzhen released "Ten Key Points for Supporting Service Trade Development" on May 7, while Guangzhou introduced "22 Measures for Service Trade and Digital Trade" on May 9, both focusing on enhancing service trade [1] - The policies emphasize the importance of digital trade, with Shenzhen prioritizing its development and Guangzhou highlighting the need for a supportive institutional and infrastructural environment [2] Group 2: Strategic Focus Areas - Both cities stress the importance of aligning rules and standards, with Guangzhou aiming to connect with Hong Kong and Macau's regulatory frameworks, while Shenzhen's measures facilitate the flow of elements within the Greater Bay Area [2] - The policies also prioritize standard-setting, with Guangzhou proposing the development of Bay Area and international standards, and Shenzhen supporting enterprises in obtaining international certifications [2] Group 3: Sector-Specific Support - Shenzhen offers greater financial support for financial service export enterprises, with rewards up to 2 million yuan, while Guangzhou focuses on the internationalization of professional services like accounting and law [3] - The distinct approaches of both cities create a complementary development pattern, leveraging their respective strengths in service trade [3] Group 4: Future Directions - The cities are positioned to lead in service trade innovation, capitalizing on their strong industrial foundations, talent pools, and high levels of openness [3] - Future efforts should focus on policy coordination to address systemic challenges such as data flow, talent acquisition, and intellectual property protection, transforming policy benefits into tangible development outcomes [3]