China's State Council has introduced a new guideline to promote high-quality development of trade in services with a focus on high-standard opening up.
The guideline says institutional opening up of trade in services will be promoted and a negative list management system for cross-border trade in services will be established while improving the standardization of service trade.
The guideline outlines 20 key tasks across five areas, emphasizing the acceleration of digital, intelligent, and green development in the sector.
Leveraging open platforms
The role of open platforms in driving service trade development will be maximized. The 22 free trade zones and the Hainan Free Trade Port are highlighted as pilots for further opening up, with a gradual nationwide expansion of cross-border service trade.
China will encourage establishing national demonstration zones for innovative service trade, focusing on areas such as market access, regulatory frameworks, and risk management, to create high-quality development hubs.
Meeting international standards
China is committed to aligning its service trade regulations with international standards. The guideline emphasizes the implementation of commitments under regional trade agreements such as the Regional Comprehensive Economic Partnership.
Reform of the domestic service trade sector will be deepened, including standardizing service licenses, qualifications, and technical standards, ultimately simplifying the approval processes and enhancing the transparency of regulatory policies to reduce costs for cross-border trade services.
Technology and green development
In the technology sector, the guideline focuses on promoting exchanges and application of technological achievements. The goal is to improve the technology trade management and promotion system, build platforms for connecting innovation resources, and expand international cooperation networks.
Facilitating cross-border transfer of technology from R&D centers and other measures are also highlighted as ways to boost the application and commercialization of sci-tech achievements.
Green development is a key aspect of the guideline. Green technologies and trade in green services will be developed, and a directory of green service imports and exports will be created.
Facilitating talent mobility
The guideline also addresses the need to facilitate cross-border exchange of global talent. Measures include providing convenient entry and exit procedures for managers and technical personnel of foreign-invested enterprises, as well as their family members.
High-level foreign professionals and their research staff will be offered visas and residence permits to invest, work and engage in business exchanges in China. Foreign professionals will be allowed to obtain domestic qualifications and employment opportunities in certain sectors.
Inbound tourism will be developed to make obtaining visas convenient and streamline the entry process for international visitors.
A variety of payment services will be provided in hotels, tourist attractions and other public venues to accommodate overseas tourists. Additionally, accommodation arrangements will be made more convenient for foreigners visiting or residing in the country.