While the China International Fair for Trade in Service (CIFTIS) officially closed on Wednesday, its online platform will remain open for a limited time to allow enterprises to register, build online exhibition booths, and negotiate and sign contracts, according to information from China's Ministry of Commerce (MOC) and Beijing Municipal Commerce Bureau.

The fair is the first major global economic and trade event held both online and offline by China since the outbreak of the COVID-19 pandemic. A total of 190 forums and business meetings covering all 12 major aspects of trade in service were held during the event, described Yan Ligang, director of the city's commerce bureau. Yan noted that 22,000 companies from 148 countries and regions participated in the fair both online and offline. This includes 33 international organizations, 68 foreign embassies in China, 110 foreign business associations, and 199 Fortune 500 companies.

To improve participants' experience and cope with the COVID-19 pandemic, the fair adopted measures which integrated comprehensive and themed events, online and offline activities, and indoor and outdoor gatherings. Nearly 6,000 companies and institutions from around the world joined the exhibition, making full use of cutting-edge technologies such as 5G, big data, artificial intelligence, as well as tools for financial innovation.

Over 30 authoritative reports, indexes, and rankings were published during the fair's 190 forums and business talks. Meanwhile, 63 companies and institutions used the event to unveil their latest products, technologies, and services.

In addition, multiple preventive measures were adopted throughout the fair to ensure attendees' safety throughout. For example, extra attention was given to the venue's ventilation system during the venue's design and building process. More than 800 nucleic acid testing areas were also set up in the venue, and strict sanitization and sterilization procedures were carried out day and night.

Xian Guoyi, an official with the MOC, underscored that the CIFTIS fully showcased the significant progress being made by China in terms of pandemic control and social and economic development. Xian added that the fair also demonstrates China's unwavering determination to push for higher-level opening up and sends the world a clear signal of China's willingness to promote economic globalization and deepen international trade cooperation. Xian believes that the fair will help the world to reach consensus on collaboration for controlling the pandemic and speeding up economic recovery. As such, the fair functioned as a way in which events can be held against the backdrop of COVID-19 as the "new normal."

According to Xian, the MOC will introduce a whitelist for cross-border trade and services for China and its free trade zones, to further aid institutional opening up. China will make greater efforts to establish pilots for innovative development of trade in services, and build comprehensive demo zones for the country's service industry alongside greater opening-up. China will also expand its export centers for specialized services, and ramp up its efforts to develop digital trade.

Results achieved during the fair will be further implemented. China vows to make the CIFTIS the most influential global exhibition for trade in services, and will continue to improve the quality of the exhibitions it holds to attract foreign trade.

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