“China to promote integrated development of high-end manufacturing and modern service industriesChinese President Xi Jinping said during his video address at the China International Fair for Trade in Services (CIFTIS) in Beijing on Saturday, according to Reuters.
The political officer also said that promote the expansion of market access in the service industry and encourage cross-border trade in servicesafter US Commerce Secretary Gina Raimondo highlighted the lack of a positive environment for US companies in China.
Fears of a slowdown in the economic recovery also appear to have pushed Xi Jinping towards the announcements, as he added: “China will focus on expanding the domestic market, increasing imports of high-quality services, and reforming the country’s basic data system“.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.