Guizhou's service imports and exports see rapid growth

Since becoming a service trade innovation pilot area in 2016, Southwest China's Guizhou province has accelerated the development and expanded the scale of service trade, which have contributed to supply-side structural reform, industrial transformation and upgrading, and opening-up.

Statistics show that from 2016 to 2019, the import and export volume of Guizhou's service industry totaled $7.67 billion, an average annual increase of 16.15 percent.

In 2019, Guizhou's service industry exported $1.67 billion and imported $655 million. Among all the regions, the capital, Guiyang, contributed 90 percent of the province's total service trade volume.

Traditional service trades such as construction, travel and transport occupy 90 percent of Guizhou's total service trade volume.

As global work resumes and the promotion of 5G technology, big data, cloud computing and the internet of things continues, Guizhou will promote service trade to seek new opportunities and achieve high-quality development.

Guizhou is striving to establish a joint conference system involving service trade related government departments, which can improve cross-department coordination, plan for service trade supporting policies, and solve difficulties encountered in service trade development.

Guizhou will attract national projects and funds to support Guiyang and Guian New Area to apply for service trade innovation pilot areas, and support Guiyang in the construction of a national service outsourcing demonstration city.

Guizhou aims to attract companies and projects involving high-end services such as big data, big health, tourism, finance and insurance, and cultivate large-scale transnational service companies to improve the level and international competitiveness of service trade.

In addition, Guizhou will explore ways to establish systems of supporting policies, monitoring, assessment, supervision, publicity and training, with the aim of publicizing and implementing supporting policies involving service trade.