2018年CRI China to open service sector wider: official

 

New steps are being taken in China to open up this country's service sector¹ to more investment through new reform projects.

China's State Council has approved a plan proposed by the Ministry² of Commerce to deepen pilot projects for the innovative³ development of the service trade.

The plan contains eight major tasks, including a further expanding of the service sector.

Xian Guoyi, the director of the Service Trade Department of the China's Ministry of Commerce, says there's still a lot of room for improvement in China's service trade sector.

"From China's perspective, as the country is taking part in and promoting economic globalization at a fast pace. Service trade has played an increasingly important role in China's foreign trade as well as its status in the global value chain. China's service trade ranks second in the world in scale. However, in general, China's service trade began relatively⁴ late, meaning its foundation wasn't very solid. We just didn't have enough experience, quality and structure, meaning China's service trade is still being upgraded," says Xian.

In order to strengthen the service sector, new approaches to open up several service areas will be introduced.

"Wholly foreign-funded banks, Chinese-foreign joint-venture banks and branches of foreign banks are allowed to apply for Chinese yuan business operations while applying for business startups. This is a very significant breakthrough compared with the existing policy. Another example is to lift the foreign share ownership limits on setting up market-oriented offshore⁵ call centers. New approaches will also be taken in six areas such as visa convenience, cross-border self-driving tour and engineering consulting services and legal services," says Xian.

The pilot programs will eventually make China's open economy more competitive.

"Through efforts from all relevant parties, the pilot programs will become a new platform for the innovative development of China's service trade sector, promote China's own service sector to the world, and bring more advantages to China's economy," says Xian.

The pilot projects will be carried out in 13 cities and provincial⁶ regions, as well as four national-level areas, including the Xiongan New Area outside Beijing.

The trials will run from July 1st this year to June 30th, 2020.

1 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

2 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

3 innovative   

adj.革新的，新颖的，富有革新精神的

参考例句：

• Discover an innovative way of marketing.发现一个创新的营销方式。
• He was one of the most creative and innovative engineers of his generation.他是他那代人当中最富创造性与革新精神的工程师之一。

4 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

5 offshore   

adj.海面的，吹向海面的；adv.向海面

参考例句：

• A big program of oil exploration has begun offshore.一个大规模的石油勘探计划正在近海展开。
• A gentle current carried them slowly offshore.和缓的潮流慢慢地把他们带离了海岸。

6 provincial   

adj.省的，地方的；n．外省人，乡下人

参考例句：

• City dwellers think country folk have provincial attitudes.城里人以为乡下人思想迂腐。
• Two leading cadres came down from the provincial capital yesterday.昨天从省里下来了两位领导干部。