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 - Accelerating the development of service trade is a crucial measure for expanding high-level opening-up and cultivating new momentum for foreign trade development, as highlighted by the recent policy measures released by multiple government departments [1] Group 1: Policy Measures Overview - The policy measures include 13 specific initiatives aimed at providing comprehensive support for service exports [1] - The measures emphasize the importance of enhancing the guiding role of the Service Trade Innovation Development Fund to attract more social capital into the service and digital trade sectors [2] Group 2: Tax and Insurance Support - The policy proposes optimizing the zero tax rate declaration process for service exports by promoting electronic information to replace paper or electronic certificates, thereby improving the efficiency of tax refund applications [3] - It encourages export credit insurance companies to increase support for service exports, expanding coverage in areas such as transportation and internet advertising while enhancing claims service quality [4] Group 3: Regulatory and Financial Management - The measures aim to improve the bonded supervision system by simplifying the approval process for imported goods necessary for research and testing within comprehensive bonded zones [5] - The policy outlines steps to optimize cross-border capital flow management, including supporting service enterprises in joining multinational companies' integrated currency pools and enhancing the efficiency of cross-border payment processes [6]

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]