It's a packed house, as the 4th China-Singapore Trade in Services Innovation Forum kicks off in Shanghai. [Photo/WeChat account: sipacnc]
The 4th China-Singapore Trade in Services Innovation Forum was held on Nov 7, as an important side activity of the 4th China International Import Expo or CIIE – which ran on Nov 5-10 in an exhibition and convention center in East China's Shanghai city.
An agreement is signed at the event between Singapore's consul-general in Shanghai Chua Teng Hoe and Wu Qingwen, deputy Party secretary of Suzhou. [Photo/WeChat account: sipacnc]
Wu Qingwen, deputy Party secretary of Suzhou city in East China's Jiangsu province and Chua Teng Hoe, consul-general of Singapore in Shanghai signed a Memorandum of Cooperation on Service Industry Development between the Suzhou municipal government and the Singapore Ministry of Trade and Industry.
Meanwhile, the Bank of Communications signed a strategic contract with Suzhou Industrial Park. In addition, three groups of representatives from 21 enterprises signed a collective contract.
The value of service trade imports and exports in 2020 in Suzhou Industrial Park is estimated to have topped $10 billion. Of that, foreign exchange receipts and payments – for emerging services represented by intellectual property services and telecommunications, computer and information services – accounted for about 70 percent of the total.
A roundtable brainstorming session – themed on the "vision under the new pattern of Shanghai-Suzhou integrated development: digital technology reengineers the global industrial chain" – is also held during the forum. [Photo/WeChat account: sipacnc]
The productive service trade sector, featuring research and development design, third-party logistics and inspection certification is growing fast in Suzhou.
Since 2021, the service export of the industrial park has grown rapidly, generating a trade surplus of nearly $800 million.