Pilot project approved to innovate and develop services trade

The State Council, in a circular issued on Aug 11, approved a three-year pilot project of further innovating and developing the services trade in 28 provinces and cities, including Beijing, Shanghai and Hainan.

According to the circular, people-centered development principle and new development concept should be adhered to, and supply-side structural reform should be implemented. And reforms, opening-up, innovation and high-quality development should be highlighted.

The project should explore a mechanism of innovative development of the services trade, give full play to its role in stabilizing foreign trade and investment, and promote transformation, upgrading and high-quality development of foreign trade, the circular said.