Expanded exhibition area nearly complete for China's foremost services trade fair

The 2024 China International Fair for Trade in Services (CIFTIS), set to be held in Beijing in September, has completed 93 percent of the expanded exhibition area for the comprehensive exhibition and special exhibitions.

This year's CIFTIS will be held from Sept 12 to 16 at the National Convention Center and Shougang Park, a sprawling industrial park turned iconic attraction. With the theme of "Global Services, Shared Prosperity", the fair will cover topics such as supply chain and business services, telecommunications, computer and information services.

"This year, the CIIE has intensified its efforts in promotion and attracting business and exhibitors at home and abroad, inviting more Fortune 500, specialized and new enterprises and unicorn enterprises. Currently, 93 percent of the exhibition area expanded for comprehensive exhibitions and special exhibitions have been completed. 72 countries and international organizations have decided to set up offline exhibitions in the name of national governments or headquarters," said Zhou Ling, deputy director of the Beijing International Service Trade Affairs Center.

Organizers said at a press conference held in Beijing on Monday that this year's event will focus on the country's new quality productive forces, referring to innovation-led development to promote high-quality growth.

"We'll emphasize new quality productive forces and create specialized exhibits. The high-level design showcase will focus on innovation, featuring the latest achievements in digital, smart and green services trade," said Ai Yinfang, deputy director of Beijing China International Center for Economic and Technical Exchanges.

The fair will also host the Global Trade in Services Summit, reinforcing a commitment to openness and serving as an international platform for public exchanges.

Organizers said the fair will offer wide-ranging services for international attendees, providing one-stop solutions for transportation, payments, dining, and more.

They also emphasized that everything is on track for the exhibitions. As a flagship project of China's opening up, the organizers believe this year's event will focus even more on boosting cross-border collaboration and creating a better future through shared services.

Expanded exhibition area nearly complete for China's foremost services trade fair

⁠⁠⁠⁠⁠⁠⁠China's foreign investment policies are empowering biomedical enterprises to expand domestically and globally.

The China Council for the Promotion of International Trade (CCPIT) held a Foreign Invested Enterprises Tour of south China's Guangdong Province on Wednesday, presenting business opportunities as well as the country's consistent policies for further opening up in a world wracked by economic uncertainty. 

China continues to welcome foreign investment, and its biomedical sector, including pet healthcare, is set to grow and expand. 

Joey Yeo is among hundreds of international business leaders on the tour. As the founder of two pet healthcare startups in Shanghai, Joey leverages China's pro-foreign direct investment (FDI) measures. 

"I think the openness with the local government and the business district has been very fruitful," said Yeo, CEO of HEAL Management Group.

With streamlined approvals and regulatory guidance, Yeo's company plans to scale operations across multiple cities. 

"Not just Shanghai, but we used to see other cities as well coming to us and asking us, giving us more opportunities and more understanding how we can actually set a bigger landscape," he said. 

Yeo's story reflects broader trends - China's FDI policies have reduced entry barriers, while banks like Bank of East Asia (BEA) offer tailored financial solutions. 

"I don't think any multinational company or foreign investors can ignore the huge market capacity, the huge potential of greater China. So we are going through the fintech transformation and by adapting AI, big data, block chains - those kind of technology, we can better help those SMEs in need," said Bi Mingqiang, CEO of BEA(China).

As China prioritizes openness, biomedical firms and financial institutions are forging a symbiotic growth model, proving resilient in a fragmented global economy.

Biomedical companies thrive under China's FDI policies