CGTN: Beijing to Build Pilot Free Trade Zone to Further Open Up Services Industry
China's central government will support Beijing in setting up a pilot free trade zone characterizing scientific and technological innovation, opening up of the services sector and the digital economy.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200904005527/en/
The decision was announced at the opening of the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing on Friday.
"We will support the municipality in developing a national integrated demonstration zone for greater openness in the services sector. It will enable Beijing to take bigger, bolder steps as a trailblazer and gain more experience that would be replicable and scalable," Chinese President Xi Jinping said while addressing the CIFTIS Global Trade in Services Summit via video.
The new zone will serve as a platform of high-standard opening-up for the coordinated development of the Beijing-Tianjin-Hebei region, and open up new horizons for reform and opening-up at a higher level, Xi added.
CIFTIS is the first major international economic and trade event held both online and offline by China since the COVID-19 outbreak.
Open and inclusive environment for cooperation
In his speech, Xi called for joint efforts to foster an open and inclusive environment for cooperation, saying the world is going through profound shifts unseen in a century and the COVID-19 pandemic is accelerating such changes.
The president said the services sector is unique as it is asset-light but heavy in soft factors of production.
"As such, it requires, more than other sectors, an open, transparent, inclusive and non-discriminatory environment for businesses to grow," he stressed, calling for concerted efforts from all countries to reduce border and behind-the-border barriers constraining the flow of production factors and promote cross-border connectivity.
"We will continue to work on a negative list system for managing cross-border services trade," he noted. "We will develop open platforms for the pilot program of innovative development of the services sector. We will further ease market access for the services sector, and will take greater initiative to increase imports of quality services."
Power of innovation
Xi called for joint efforts to unleash the power of innovation and drive cooperation forward.
"We need to adapt to the trend towards digital-driven, internet-based and smart growth, jointly eliminate the 'digital divide,' and advance digitalization of trade in services," he said.
"China will continue to build bases for featured services export and develop new business forms and models in services trade. China will work with other countries to enhance macro policy coordination, accelerate international cooperation in the digital sector, step up intellectual property protection, and facilitate the vibrant growth of the digital economy and sharing economy," Xi added, noting that such efforts will generate renewed dynamism for the world economy.
Make the 'pie' bigger
President Xi also stressed the importance of promoting mutually beneficial cooperation, saying that to treat each other with sincerity and pursue shared benefits is the key to state-to-state relations in today's world.
"Countries need to forge greater synergy in growing their trade in services, seek new ways and more areas of cooperation, and look for the widest possible converging interests in development so as to make the 'pie' bigger and bigger."
China will use CIFTIS and other platforms, such as the China International Import Expo, to promote policy exchange and experience-sharing, and foster diverse partnerships with foreign governments, international organizations, business associations and enterprises, Xi added.
"China supports the establishment of a global alliance for trade in services. We hope to see more fruits from our practical cooperation so that people in different countries will all benefit from a growing trade in services."
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Takeda Presents New Data Highlighting Scientific Advancements in Lung Cancer at ESMO Virtual Congress18.9.2020 13:55:00 EEST | Press release
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced that the company is presenting data from its lung cancer portfolio at the virtual European Society for Medical Oncology (ESMO) conference. Notably, insights from sub-analyses of the Phase 3 ALTA 1L study reinforce both the compelling evidence of intracranial efficacy with ALUNBRIG® (brigatinib) as a first-line treatment for patients with anaplastic lymphoma kinase-positive (ALK+) non-small cell lung cancer (NSCLC) as well as associated quality of life (QoL) data. Takeda is also featuring updated 10-month follow-up results from the Phase 1/2 trial of mobocertinib (TAK-788), demonstrating mobocertinib achieved a duration of response (DoR) of more than one year in the trial’s study population of patients with epidermal growth factor receptor (EGFR) Exon20 insertion+ metastatic NSCLC (mNSCLC). “We’re pleased to present our ongoing research in lung cancer at this year’s virtual ESMO congress, including new
Incyte Announces Encouraging Results From Phase 2 Trial of Retifanlimab (INCMGA0012) in Patients With Previously Treated, Advanced Squamous Cell Carcinoma of the Anal Canal18.9.2020 13:00:00 EEST | Press release
Incyte (Nasdaq:INCY) today announced results from its Phase 2 POD1UM-202 trial evaluating retifanlimab, a PD-1 inhibitor, in previously treated patients with advanced squamous cell carcinoma of the anal canal (SCAC) who have progressed following standard platinum-based chemotherapy. The trial enrolled 94 patients, including those with well-controlled human immunodeficiency virus (HIV) infection (10%). Retifanlimab monotherapy resulted in a confirmed objective response rate (ORR) of 14% as determined by independent central review (ICR) using RECIST v1.1. Responses were observed regardless of PD-L1 status, presence of liver metastases, age or HIV+ status. Retifanlimab was generally well-tolerated with a safety profile as expected of a PD-1 inhibitor and no loss of HIV infection control. Key findings from POD1UM-202: N=94 ORR* (95% CI) 13.8% (7.6-22.5) Best OR*, n 1 CR 12 PR 33 SD DCR 48.9% DOR, median (95% CI), months 9.5 (5.6-NE) PFS, median (95% CI), months 2.3 (1.9-3.6) OS, median (95
Sigfox and Cube Infrastructure Managers Announce Major Partnership in IoT Infrastructure18.9.2020 10:30:00 EEST | Press release
Sigfox, the global 0G network1 and cloud provider for industrial data, is proud to announce a new strategic alliance with Cube Infrastructure Managers (Cube), through the sale of its German 0G network to Cube. Sigfox has grown its 0G IoT services by rolling out 0G networks across 72 countries and regions, which was largely achieved with partners called Sigfox Operators. These operators are the owners of the 0G networks, which they operate as exclusive connectivity providers of Sigfox IoT services, offering worldwide connectivity to customers. The sale of the German network to Cube will allow Sigfox to finance its continued innovation efforts in data value extraction and improvements in cloud algorithms to reduce energy consumption and allow the implementation of even more cost-effective devices and sensors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200918005116/en/ Cube Infrastructure Managers, the European infrastructu
Sensorion successfully raises approximately €31 (US$ 36.5) million in an oversubscribed private placement to US and European investors18.9.2020 09:00:00 EEST | Press release
Regulatory News: Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan. This press release is not intended as an offer and is for informational purpose only Sensorion (Paris:ALSEN) (FR0012596468 – ALSEN – the “Company”) a pioneering clinical-stage biotechnology company which specializes in the development of novel therapies to restore, treat and prevent within the field of hearing loss disorders announces today the success of its previously announced capital increase. The Company has placed 18,236,000 new ordinary shares with a nominal value of €0.10 each (the “New Shares”), for total gross proceeds of approximately € 31 million by means of an accelerated bookbuild offering to the benefit of categories of persons (the “Reserved Offering”). The issue price of the New Shares is €1.70 per share, representing a 3.5% discount to the weighted average share price on the day preceding the date on which the issuance price
ESMO 2020: Phase II CLARINET FORTE Results Show Increasing Dose Frequencies of Somatuline® Autogel® (lanreotide) Allows Patients with NETs to Delay Treatment Escalation by up to 8.3 Months18.9.2020 08:00:00 EEST | Press release
Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced the release of first efficacy and safety data from the CLARINET FORTE study, with the abstract to be presented as a mini-oral presentation at the 2020 European Society for Medical Oncology (ESMO) Congress, taking place virtually from 19-21 September 2020. The prospective single-arm, open-label, exploratory, international Phase II study investigated the efficacy and safety of increasing the dose frequency of Somatuline® Autogel ® (lanreotide) in patients with pancreatic or midgut NETs with centrally-assessed progression within the last two years while on a standard lanreotide regimen for ≥24 weeks. An extension of progression-free survival (PFS) rates and encouraging disease-control rates (DCR) were recorded in both tumor types, with no new safety signals. “These results support a clinically meaningful benefit to a population of patients with high unmet medical need by potentially delaying escalation to more toxic treatm
Vifor Pharma Group Announces Successful Sale of OM Pharma18.9.2020 08:00:00 EEST | Press release
Regulatory News: Vifor Pharma has today announced the successful sale of 100% of the share capital of OM Pharma, a Vifor Pharma Group company to Optimus Holding Ltd. The terms of the deal include: A purchase consideration of MCHF 435 for 100% of the share capital An earn out related to potential future value gains on 20% of Optimus Holding Ltd. equity to be determined before the end of 2027 upon a trade sale, IPO or EBITDA multiple This earn out together with the purchase consideration could result in a total transaction value exceeding MCHF 500. The deal is expected to close within 30 days. OM Pharma is a Geneva-based company mainly active in the field of microbial derived immunotherapeutics and has developed strongly outside the core strategy of Vifor Pharma over the past few years. Optimus Holding Ltd. is a Swiss Group, founded by Etienne Jornod together with long-standing Swiss entrepreneurs and Abdi Ibrahim (28.5%), a Turkey-based pharmaceutical company operating in 12 countries a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom