New Era for Digital Trade

On September 2, the China International Fair for Trade in Services was opened in Beijing with the theme of “Toward Digital Future and Service Driven Development.” The six-day fair saw 642 deals clinched, 223 investment agreements inked and 46 alliances formed. According to the “Global Digital Trade and China Development Report 2021,” China has become one of the top 10 digital trade economies and innovation centers worldwide. Digital technologies including the internet, big data and cloud computing have consolidated its position as a major digital trade powerhouse. Industry experts said it is a priority to establish rules for cross-border digital trade. China also needs clear rules in the digital service sector and should establish demonstration zones for digital trade.