On the morning of May 28, the First China (Beijing) International Fair on Trade in Services and Summit Forum was held in Beijing International Conference Center. Chen Deming, Minister of Commerce, delivered the keynote speech at the forum. The speech is as follows:

Promote New Development of Trade in Services by Grasping Opportunities and Carrying out Win-Win Cooperation
——Speech at the First China (Beijing) International Fair on Trade in Services and Summit Forum

Chen Deming
（May 28, 2012）

Honorable Guests,
Ladies and Gentlemen,
Dear Friends,

Good morning!
The First China (Beijing) International Fair on Trade in Services and Summit Forum is solemnly held today. The speech by Wen Jiabao at the opening ceremony shows the great significance of developing trade in services for both China and the world. It also expresses the will and determination of China to promote the opening-up of domestic service industry as well as the development of international trade in services together with countries all over the world.
With more than 30 years of opening-up, especially after entering the new century, China constantly pursues orderly opening-up of service industry, introduction of quality elements to both integrate into the global market and fuel the rapid development of trade in services. From 2000 to 2011, China's total volume of imports and exports increased from $66 billion to $419.1 billion with an annual growth rate of 18.3%. Meanwhile, its global share increased from 2.2% to 5.2%, changing its world rank from 12th to 4th. China constantly optimizes its trade in services structure, which ensures the stable development of traditional trade in services in fields of transportation, tourism and construction, and the rapid emergence of modern trade in services, such as computers, finance, consultation and so on. The development of trade in services speeds up China's steps in transforming its economic developing model and adjusting its economic structure as well.

The development of China's trade in services will not only benefit the Chinese people but people all over the world. China increases consumers' welfare of our trade partners and stimulates the development of their trade in services through exporting quality service, and undertaking outsourcing and international labor output respectively. Particularly, the constant expanding of China's import of trade in services has created numerous jobs and investment opportunities for our trade partners. In 2011, the import of China's trade in services arrived at $237 billion, a 23.7% year-on-year increase.

Ladies and Gentlemen,

China's opening-up has entered a new period. With the implementation of the 12th Five-year Plan, China will provide wider cooperation and development space for domestic and foreign enterprises. Firstly, social service demand in China will see constant increase. The acceleration of urbanization process and constant increase of income of urban and rural residents expand the development space for service industry, which directly stimulate the upgrading of residents' consumption structure and the increase of service demand as well. With rapid increasing social demand for domestic service, education and training, healthcare, and in fields of finance, techniques and tourism, China is highly expected to be the world's largest consumer market in 2012, whose total retail amount of social consumer goods is going to hit $5 trillion, outbound tourism 88 million people, and China's international transport market 36 billion ton-kilometers. China's domestic market features huge potential, dualism, broad prospects and abundant opportunities. Secondly, modern service industry is proving to be the key to attracting foreign investments into China. As a manufacturing superpower, China's large and ever-upgrading manufacturing industry provides producer service industry with huge demand. The brand-new Catalogue for the Guidance of Foreign Investment Industries coming into force at the beginning of this year and The Catalogue for Guidance of Foreign Investments in Central-Western Region amended under way both encourage foreign merchants to invest in modern service industry. The modern service industry represented by technology research and development, the digital design, process control and marketing enjoys broad market in China. Chinese and foreign service enterprise can play a positive role in the process of transforming and upgrading Chinese manufacturing industry, and share the new achievements of China's open economy. Thirdly, the service demand of Chinese enterprises for external investment is increasing. With the constant improvement of China's open economy standards, the foreign investment of Chinese enterprises stepped into a period of rapid development formally. By the end of 2011, China's direct foreign investment has exceeded $380 billion, with 18,000 overseas enterprises distributing in 178 countries and districts all over the world. China's overseas enterprises have generated robust demands for consultation, law, accounting, finance and others, which will offer the related service industry abundant business opportunities.

Ladies and Gentlemen,

The development of China's trade in services will not only serve China but the world as well. We hope we can make Beijing Trade Fair serve as a platform to enhance communication and interaction of Chinese and foreign enterprises of trade in services, broaden our visions, and seize new opportunities to create conditions of global cooperation for enterprises, and make contributions to the rapid development of global trade in services.

Finally, I wish enterprises present achieve substantial achievements in the trade in services, and the conference a big success.