Deals worth $105b signed at Beijing event

The five-day 2019 China International Fair for Trade in Services drew the curtain on Saturday in Beijing, with intended contracts worth 105 billion U.S. dollars signed.

The contracts involving financial services, communication services, cultural services and legal services signal China's upbeat momentum in the non-manufacturing sector.

Over the week, the world's largest services trade fair hosted 240 forums and business talks, which occupied nearly all major conference venues in the Chinese capital.

Yan Ligang, the fair's spokesperson, said more than 120,000 visitors from 137 countries and regions and 21 international organizations participated in the fair.

He said that in total, 306 domestic projects worth 87.512 billion dollars were signed at the fair. And 134 overseas projects were also signed with a total value of 17.55 billion dollars.

As the non-manufacturing sector sustains ever-expanding growth, the Chinese government upgraded the biennial fair, held by the municipal government of Beijing since 2012, to China's national level fair for trade in services from this year, which will be held annually.