CIFTIS: Services Trade as the New Engine of Global Growth

Tashkent, Uzbekistan (UzDaily.com) — The China International Fair for Trade in Services (CIFTIS) is nothing short of a global “feast of services.” As the world’s largest comprehensive event of its kind, it is not merely an exhibition but a window into the deep integration of China’s economy with the global economy.

This year’s CIFTIS has drawn nearly 2,000 companies, 54 countries, and 21 international organizations. Since its inception, the fair has been held eleven times, bearing witness to the rapid rise of China’s service industry and the steady expansion of global trade in services. It brings opportunities for multinational enterprises and shares the dividends of China’s openness with the world.

Why does trade in services matter?

In the 20th century, nations developed along a familiar path: agriculture gave way to factories, and manufacturing powered industrialization. In the 21st century, however, the growth engine has shifted—from manufacturing to services.

International Monetary Fund data shows that over the past decade, global merchandise trade grew at just 2.2% annually, while services trade surged at 4.7%, more than twice as fast. The Wrold Trade Organization projects that global services exports will rise another 4% in 2025 and may even surpass goods trade, becoming the new driver of the world economy. In short, those who lead in services trade will hold the upper hand in global competition.

Digital intelligence breaks trade boundaries

If trade in services is a great ship, then digital and intelligent technologies are its “engine.” Cross-border e-commerce breaks down geography, telemedicine narrows the distance to care, and online education erases time zones. Services trade is no longer confined to face-to-face transactions.

Today, more than 60% of services trade is digitally delivered. AI, big data, and cloud computing have made services more tradable while significantly reducing transaction costs. This year’s CIFTIS embodies that transformation: tens of thousands of producers and consumers are matched with precision, weaving industrial, supply, and value chains into a “multi-chain symphony.” It is not just a fair—it is a rehearsal for the future economy.

As artificial intelligence continues to evolve, it expands the horizon for entire industries. By highlighting digital intelligence and innovation, CIFTIS demonstrates how platforms for services trade can foster cross-border exchanges that in turn spark new momentum for global innovation.

Openness: the key to progress

Openness brings progress, while isolation leads to decline. This is not a slogan but a hard-earned lesson from China’s four decades of reform and opening-up. The growth of services trade hinges on both the breadth of markets and the depth of openness.

In the first seven months of this year, China’s total imports and exports of services reached 4.58 trillion yuan, or around 640 billion US dollars, up 8.2% year-on-year, according to the Ministry of Commerce. Behind these figures lies China’s consistent commitment to high-level opening-up.

China’s market is like an ocean—vast and deep. That is why global enterprises bring their innovations here and extend their partnerships here. Platforms like CIFTIS not only allow China to share its development dividends but also help the world discover new paths to growth.

A bridge to the future

Over the past decade, CIFTIS has also grown more specialized and influential. Beyond trade promotion, it has joined forces with institutions such as the WTO to release heavyweight reports, including the “China Service Trade Development Report” and the “World Tourism Cities Development Report”.

CIFTIS is more than an exhibition—it is a bridge linking China and the world. It is also an “engine” accelerating global trade in services. Amid global uncertainty, only openness and cooperation can keep this engine running at full speed.

The message from China is clear: its doors will continue to open wider, and its cooperation will grow deeper. In a world that urgently needs greater interconnectedness, trade in services is the vessel that will help carry us forward.

Jiang Tao,

CGTN Radio reporter

The views expressed are those of the author and do not necessarily reflect the views of UzDaily.