The Global Economy Is Recovering Weakly.

One of the main topics of the eleventh summit of leaders of the group of twenty (G20) is to formulate a global trade growth strategy and provide a programmatic guide for G20 trade cooperation.

Along with the pformation of macro economy from industrial dominance to service oriented pformation, the development of China's service trade is changing rapidly, which opens up a new path for China's trade growth.

Under the background of the global economic downturn and the increasingly fierce competition among countries, the external environment facing China's foreign trade is increasingly grim.

In the 1-7 months of this year, China's import and export value decreased by 3% compared with the same period last year, and the pressure on foreign trade downward is still large.

The State Council has held many meetings to arrange stable foreign trade work and issued a number of stable foreign trade policies.

From a series of indicators reflecting the status of foreign trade, such as trade mode, trade subject and new format, the effect of policy on China's foreign trade structure optimization and foreign trade pformation and upgrading is emerging.

In order to stabilize foreign trade, the recent executive meeting of the State Council has put forward five policies, which involve short-term operational policies such as further cleaning up port, shipping and other business charges, speeding up the export tax rebate, etc., as well as medium and long term strategic policies, such as giving full play to the role of two-way investment in promoting foreign trade, relying on various parks to enhance the capacity of processing trade in the central and western regions.

Zhang Ji, Assistant Minister of Commerce, said that in the past three years, the State Council has issued more than 10 policies to promote steady growth of foreign trade. These policies adhere to the combination of far and near, paying attention to steady growth, paying attention to adjusting structure and pferring ways, and fostering new advantages in foreign trade competition.

Next, the relevant departments will further implement the weak links.

In May this year, the State Council issued a number of opinions on promoting the stabilization of foreign trade, put the support of processing trade into the central and western regions, and put forward specific financial, land and financial policies, and required the cancellation of processing and trade examination and approval throughout the country.

Experts believe that pushing the pfer of processing trade actually highlights the direction of development of foreign trade under the trend of supply side reform.

Zhao Ping, a researcher at the China Council for the promotion of trade, said that the most important thing at present is to increase the added value of China's export products and promote "better progress and better output".

To increase the added value of export products, we should add and subtract together to reduce invalid and low end supply, expand effective and high-end supply, and promote the supply of foreign trade and the coordination of domestic and foreign market demand.

In January this year, the State Council issued a number of opinions on promoting the development and innovation of processing trade. It proposed that by 2020, the development and innovation of processing trade had made positive achievements and further jumped to the high end of the global value chain.

The director of the foreign trade division of the Ministry of Commerce said that "opinion" is a programmatic document guiding the development of future processing trade. Next, the Ministry of Commerce will continue to improve relevant policies and measures in conjunction with relevant departments in accordance with the requirements of the "opinions", so as to provide a sustainable and sound development environment for the development and innovation of processing trade.

According to the Ministry of commerce data, the total import and export volume of China's services in the first half of this year has maintained a two digit growth for 6 consecutive months, accounting for 18.6% of service trade, representing a 4.1 percentage point increase over the same period last year.

Qiu Lixin, director of the international service trade division, said that by 2020, the total import and export volume of our services will exceed US $1 trillion, with an average annual growth of more than 10%.

The Ministry of Commerce will accelerate the introduction of the directory of guidance areas for export of services, with a view to expanding exports of services and promoting balanced development of service exports and imports.

At the same time, we should speed up the legislative process, study and formulate the regulations on international trade in services, and optimize them.

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According to the insiders, service trade has become an important support for the pformation and upgrading of foreign trade, and has played an important role in promoting exports, promoting employment and speeding up economic restructuring.

However, China's service trade is facing a "big but not strong" situation. The existence of some hidden problems is not conducive to the better development of China's service trade.

Xing Houyuan, vice president of the Research Institute of the Ministry of Commerce, said that in order to push China from a big country of service trade to a powerful country in service trade, innovation and development is a fundamental point of breaking through tight encirclement.

In February of this year, the State Council issued an official reply to the pilot project of innovative development of trade in services, allowing Tianjin, Shanghai, Hainan, Shenzhen and Hangzhou to carry out pilot projects for the development of trade in services.

This is a very good starting point. All localities are actively planning innovative ideas combined with the advantages of local industrial structure and resource endowments.

What needs to be concerned is the global focus on service trade.

Trade protectionism has risen sharply in the past two years against the background of major trends.

Chi Fulin, vice president of China's reform and Development Research Institute and the China Economic Reform Research Association, said that China should speed up the development of service trade by relying on infrastructure, focusing on service trade and establishing a free trade area network.

He believes that if China can focus on free trade and start a new round of free trade area, then we can build a variety of free trade zones and oppose trade protectionism with the "one belt and one road" as the carrier.

He suggested that a multilateral, bilateral, regional and global free trade area should be established along the "one belt and one road". It could also be established one-way, such as establishing an energy economic circle with some central European countries and building a tourism economic circle with Asia and Europe.