The 5th China (Beijing) International Fair for Trade in Services (CIFTIS) will be held from May 28 to June 1, according to a press conference the city held on May 24. The fair will welcome participants from 120 countries and regions. Among them, 46 countries and regions along the Belt and Road will organize themed activities on finance, infrastructure, investment, and culture.

Yan Ligang, director of the Beijing Municipal Commission of Commerce, said during the press conference that this year's CIFTIS will take place on 50,000 square meters of exhibition area, with 130 forums and trade activities under the theme of promoting openness, innovation, and integration in the service industry and trade.

The event organizers will set up separate sections for international, provincial, and industrial exhibitors in the exhibition area. So far, over 37 foreign countries and regions such as the U.S., Japan, Switzerland, and Australia have reserved booths in the international section. Special sections will be designated to exhibitions of the 40th anniversary of China's reform and opening up and pilot areas of innovative trade in services. Of the 130 forums and trade activities, there will be six international forums, nine provincial, regional and municipal events, 28 overseas events, and 91 industrial meetings and trade activities.

Yan said that of the participants from countries along the Belt and Road, Russia, Thailand, Lithuania and a few others will focus on events related to cooperation in finance, infrastructure, and investment, while theaters from Indonesia, Latvia, and Spain and others will be setting up theatrical sections to facilitate cultural exchange and cooperation.

In addition, a number of authoritative reports on China's service industry will be released at the CIFTIS, which has evolved into a state-level international fair that leads China's developing service industry and propels its economic restructuring, Yan said.

Ding Huiru, deputy director of the Department of Trade in Services and Commercial Services of the Ministry of Commerce, said at the press conference that the export and import of China's service industry has maintained a stable progress and is about to enter a phase of high-quality development. Spurred by the export of emerging services that highlight technology, brand, quality, and service, the total export and import volume of China's trade in services reached 1.25 trillion yuan (US$196.08 billion) for the first quarter of 2018, with year-on-year growth of 11.4 percent.

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