The 2023 China International Fair for Trade in Services (CIFTIS) will be held in Beijing from September 2 to 6. How is trade in services like? And how is it related to our lives?

What is trade in services?

According to the World Trade Organization (WTO), trade in services can be carried out in four modes:

Presence of natural persons

Consumption abroad

Commercial presence

Cross-border supply

Trade in services is further divided into 12 sectors

Business services

Communications services

Construction and engineering services

Financial services

Tourism and travel-related services

Recreation, cultural, and sporting services

Transport services

Health and social services

Education services

Distribution services

Environment services

Other services

Why is it so closely related to our lives?

When migrant workers call or send WeChat messages to their families back home, they are using communication services.

With the rapid development of e-commerce, many agricultural products can be directly delivered from their places of origin to consumers. This process involves postal transport services.

Rural patients who receive remote medical treatment at local hospitals are using health services.

During the COVID-19 pandemic, children in rural areas also take online classes remotely via the Internet. This is an example of education services.

What are the highlights of the 2023 CIFTIS?

No. 1: China's first Level 4 autonomous driving freight vehicle

This vehicle is designed for open roads in urban areas and is equipped with a full-stack software and hardware autonomous driving solution. lt is capable of 360-degree blind spot detection, bringing new impetus to intelligent logistics.

No. 2: Metaverse Park at the No. 1 Blast Furnace

The No.1 Blast Furnace - SoReal Metaverse Park is approximately 20,000 square meters in size. It is a combination of 5G and XR technologies and a century-old historical and cultural site. As a fully immersive science fiction complex featuring the theme of space exploration, it integrates the experiences of culture, technology, entertainment, and consumption.

No. 3: "Jumang", China's first carbon monitoring satellite for terrestrial ecosystem

This satellite is developed by the China Aerospace Science and Technology Corporation. lt adopts laser hyperspectral, polarization, and other comprehensive remote sensing technologies for carbon monitoring and carbon stock measuring of terrestrial ecosystem, providing comprehensive data support for China to gradually shift from a dual control system of total energy consumption and energy intensity to a dual control system of total carbon emissions and emissions intensity.

(Source: CIFTIS News)