The Suzhou bureau of commerce hosts a seminar on expanding service trade imports in the Suzhou FTZ on Feb 17. [Photo/suzhou.gov.cn]
The Suzhou bureau of commerce (office of the leading group for the Suzhou Free Trade Zone) hosted a seminar on expanding service trade imports in the Suzhou FTZ on Feb 17.
During the seminar, participants offered suggestions and recommendations on enhancing the import capacity of services and expanding service trade imports in the FTZ. Enterprise representatives shared their business requirements for cross-border data flows and digital trade strategies, while relevant units exchanged views and made suggestions on the development of service imports and cross-border data flow businesses.
Suzhou is working to expand its service trade imports, which will help bring in more advanced international technology, keep industrial development up to international standards, increase the participation of Suzhou's manufacturing industry in the global value chain, and transform and upgrade domestic service capabilities by introducing high-end services.
Suzhou Free Trade Zone. [Photo/szzmq.com]
Li Zhaowei, deputy director of the Suzhou bureau of commerce, noted that expanding imports is meant to ease economic and trade frictions, allow for better integratation into the world economy, and create a new way to enhance the global value chain layout.
Li added that as a high-level opening-up platform, Suzhou FTZ should accelerate the innovation and development of service trade, further explore the liberalization and facilitation of service imports, study knowledge-intensive service trade imports, and build the best business environment for open markets in the fields of professional services, financial services, insurance services, and more.