BEIJING, Nov. 16 (Xinhua) -- China's services import is expected to reach 10 trillion U.S. dollars in the next 15 years, according to an official announcement during the just-concluded first China International Import Expo (CIIE).
China has become an active participant in international service trade, showed a report on China's services import for 2018 released by China’s Ministry of Commerce (MOC) during the CIIE, quoted by the Xinhua-run Economic Information Daily.
The report presented that in the past five years, China has contributed most to global services import growth, with a contribution rate of 25.8 percent. It also estimated that in the next five years, China's services imports will exceed 2.5 trillion U.S. dollars, accounting for more than 10 percent of the world's total, and contributing more than 20 percent to the global growth.
As MOC official Xian Guoyi pointed out, China has made important contributions to promoting the recovery of international service trade.
In the future, service trade is likely to receive policy support for further opening up. For example, export-oriented enterprises may soon enjoy preferential treatment in income tax, according to Li Jun, researcher at the Chinese Academy of International Trade and Economic Cooperation (CAITEC) under the MOC.
In addition, restrictions on the proportion of foreign investment are expected to be softened in education and medical sectors, which is good news for foreign-funded schools and foreign-invested hospitals in China, added Li. (Edited by Li Wenxin, liwenxin@xinhua.org)
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