The value of offshore services outsourcing and trade undertaken in Zibo city – located in East China's Shandong province – has reached 190 million yuan ($29.8 million) so far this year, a 7.3 percent year-on-year rise, according to the latest figures from the Zibo municipal commerce bureau.
The trade in services by key enterprises has had a combined import and export value of 780 million yuan, up 26.6 percent.
With the rise of new industries, new business forms and new business models – stimulated by industrial renewal – Zibo's service trade is said to have entered an era of rapid growth.
Moving forward, Zibo is expected to firmly grasp the current opportunities for the trade in services being brought about by RCEP – a huge trading bloc China joined and which went into force at the start of the current year – that will substantially reduce tariffs for its members.
Moreover, the city will promote the integrated development of domestic and foreign trade and develop a number of related key enterprises.
Meanwhile, combined with the construction of the Boshan National Cultural Export Base, Zibo will make every effort to build an innovative platform for ceramics and glazes, promoting the high-quality development of cultural trade.
Through developing new industries, stabilizing foreign trade and stimulating consumer spending, Zibo is expected to experience further growth in foreign trade and contribute to the country's development.
