The China International Fair for Trade in Services will open for the first time a hall that offers a “metaverse” experience.

The China International Fair for Trade in Services (CIFTIS) 2022 will be held at the National Conference Center and Shougang Park in Beijing from August 31 to September 5. CIFTIS will span a larger area and attract more participants. With greater international influence and more and more professional, CIFTIS will emphasize green and innovative cooperation.

According to Yang Jinbo, deputy mayor of Beijing, the size of the exhibition area and the number of companies participating in person in 2022 exceeded those of the previous edition. The surface of the exhibition area has increased by 26,000 square meters, and the thematic exhibition area has doubled to 20,000 square meters. Until 22 August, excluding trade fairs dedicated to countries, provinces or cities, 1,407 companies will participate in face-to-face CIFTIS, up 13.8% in one year. Among these companies, there are 446 FORTUNE Global 500 companies and companies with global leadership positions.

The photo shows the exterior of Shougang Park, where the China International Fair for Trade in Services (CIFTIS) will be held, on August 23, 2022. (Luqi / Pic.people.com.cn)

CIFTIS has grown steadily since the first edition and has already become one of three exhibitions showing the opening of China, said Sheng Qiuping, deputy minister of trade. Over the ten-year history of CIFTIS, the trade in services has developed rapidly in China. During this period, the value added of the Chinese services sector increased by 1.49 times and the imported services exceeded $ 4 trillion in total, which strengthened China’s lead with its mega market.

During this edition of CIFTIS, more than 400 companies from the FORTUNE Global 500 and companies in global leadership positions will participate face to face, bringing the rate of foreign companies participating to 20.8%, almost three percentage points higher than the previous edition.

The photo shows the exterior of Shougang Park, where the China International Fair for Trade in Services (CIFTIS) will be held, on August 23, 2022. (Luqi / Pic.people.com.cn)

As a major international service trade fair, CIFTIS will lead the trend in China’s service sector, accelerate the recovery and rise in consumption, provide international businesses with all-round opportunities to integrate into China’s large service market, and provide a demonstration and exchange platform for Chinese companies to take full advantage of domestic and international markets and resources.

Until 22 August, 71 countries and international organizations have confirmed their participation in CIFTIS 2022, including 59 countries such as United Arab Emirates (UAE), Germany and the United Kingdom, and 12 international organizations such as the World Meteorology Organization (WMO) and the United Nations Educational, Scientific and Cultural Organization (UNESCO), respectively 11 and 2 more than in the previous edition. 17 of the top 30 countries in terms of trade in services will participate, which is 5 more than in the previous edition. 10 countries will create their national space at CIFTIS as countries for the first time, such as the United Arab Emirates, Switzerland and Italy, according to Ding Yong, director of the Beijing Municipal Commerce Commission.

The photo shows the exterior of Shougang Park, where the China International Fair for Trade in Services (CIFTIS) will be held, on August 23, 2022. (Luqi / Pic.people.com.cn)

Visitors can learn about the development of trade in services in different countries and learn about local customs and cultural characteristics in the area dedicated to each country. The UAE, guests of honor of CIFTIS, will organize their exhibition on the theme of “diversified economy” and showcase its financial, cultural and aeronautical services, advanced manufacturing and others. 33 countries, including the Netherlands, Austria and Portugal, will set up “national online exhibition halls”, allowing visitors to travel online anytime, anywhere.

In the new thematic exhibition on environmental services, created during this edition of CIFTIS, the new technologies and eco-responsible applications for environmental protection and reduction of energy consumption will be exhibited. The emphasis will be placed on the new elements of digital technologies and a room will give a “metaverse” experience in the space dedicated to telecommunication services. Thematic exhibitions on financial, business, educational and health services and on the supply chain will also be organized, in order to show new advances, ways and forms of business and new technologies.

In Shougang Park, the “metaverse” experience room will showcase new advances, including advanced technologies in emerging fields, such as “metaverse” content creation and application scenarios. According to Yang Jinbo, 401 cooperation projects are currently planned, significantly more than last year.

The Global Services Trade Summit will take place on the evening of August 31st during CIFTIS. The general exhibition will take place at the National Conference Center. CIFTIS 2022 features nine thematic exhibits, eight of which will be held in Shougang Park, and the new Environmental Services exhibit will be held in Phase II of the National Conference Center. Seven high-level forums, 128 thematic forums and five side events will be organized. CIFTIS will welcome the public from 3 to 5 September.

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