Benchmarking international high-level economic and trade rules -- innovative development of service trade under the new development pattern

2021-11-12

(on November 8, visitors photographed exhibits in the service trade exhibition area of the fourth China International Fair.) President Xi Jinping solemnly declared in the keynote speech of the fourth China International Import fair, that China will unswervingly uphold genuine multilateralism, firmly share market opportunities with the world, unswervingly push ahead with high-level opening-up and unswervingly safeguard the common interests of the world. At present, promoting the innovative development of service trade with high-level opening up is a major task for China to accelerate the establishment of a new high-level open economic system and build a new development pattern. 1、 International Economic and trade rules are undergoing profound and complex changes Service trade is not only an important symbol to measure the high-quality development of trade, but also the key to promote the industrial chain and value chain to move towards the middle and high end and enhance the voice of global economic and trade rules. At present, international economic and trade rules are undergoing profound and complex changes. First of all, "zero tariff, zero barrier and zero subsidy" has become an important global trend. Second, the adjustment of international economic and trade rules has evolved in the direction of "high standards" within the region and "strong exclusivity" outside the region. Third, rules and measures are transferred from "on the border" to "within the border" such as competition neutrality. On the one hand, "within the border" rules have increased significantly. On the other hand, the principle of competition neutrality has become an important chapter of super large free trade agreements. Fourth, cptpp may become a high-level international economic and trade rule. Cptpp embodies the basic signs of high standards and wide coverage, and its rules are extended from the economic field to relevant social fields, such as environmental protection, labor rights, etc. At present, under the background that China actively applies to join the cptpp and the United States may return to the cptpp, the relevant provisions of the cptpp may become an important standard for high-level global economic and trade rules. In this context, the high-level standard of cptpp is mainly reflected in the field of service trade. Therefore, service trade has become the focus, focus and difficulty of high-level opening-up. I think China's accession to the cptpp will bring about deep-seated market-oriented reform. In this sense, opening up is the biggest reform. Therefore, it is necessary to take advantage of the important opportunity of Singapore becoming the rotating chairman of the CPP in 2022 to carry out substantive negotiations on joining the CPP with the support of Singapore. 2、 Adapt to the new trend of restructuring international economic and trade rules and promote the innovative development of service trade Over the past 40 years of reform and opening up, from expanding exports to expanding imports, from commodity market opening to service market opening, and from commodity factor flow opening to institutional opening such as rules, regulations, management and standards, China's opening door has become larger and deeper. Secondly, with the acceleration of economic service-oriented process and the continuous release of service-oriented consumption potential of urban and rural residents, the demand for modern living and productive service trade has increased significantly, and China's service trade still has considerable room for development. Therefore, we should speed up the connection between the service industry and high-level international rules, and break the market monopoly and administrative monopoly of the service industry as soon as possible. Service trade has become the focus of global free trade and rule reconstruction. On the one hand, Global trade in services has developed rapidly. From 2010 to 2019, the average annual nominal growth of Global trade in services was 4.8%, twice the growth rate of trade in goods; The proportion of service trade in total trade increased from 20.3% to 23.8%, an increase of 2.5 percentage points; If calculated by added value, the current share of Global trade in services will reach 50.8%, surpassing trade in goods. On the one hand, service trade has become the focus of global free trade and rule reconstruction. For example, the focus of global economic and trade rules is accelerating the shift from trade in goods to "trade in goods - trade in services - investment". Among the regional bilateral free trade agreements signed before the end of 2007, only 56 involve trade in services, accounting for 33.9% of the number of regional trade agreements in the same period; Among the regional bilateral free trade agreements signed from 2008 to 2020, the number of agreements involving trade in services increased to 998, accounting for 71.7%. Third, digital service trade is growing rapidly. China's transformation from goods trade to service trade. At present, China's service trade is growing rapidly, and the proportion of service trade in total foreign trade has increased significantly. Last year, although the scale of China's service trade decreased, the service trade still achieved a positive growth of 2.9%. In the first three quarters of 2021, China's service trade increased by 11.6% year-on-year. However, service trade is still a prominent short board of China's foreign trade. It is reflected in the relatively small total amount and relatively low proportion, the structure of service trade needs to be further optimized, and the voice in the formulation of global service trade rules does not adapt to the scale of service trade. As a large country in economic transformation and upgrading, the next 10-15 years will be an important "time window" for building a modern economic system. Whether it is the service-oriented transformation of manufacturing industry or the growing material and cultural needs of the people, there is a great potential for the development of service trade. It is estimated that in the next 15 years, China's imported services will exceed US $10 trillion and become the main engine of the development of global service trade. Hainan free trade port and pilot free trade zone to adapt to the new trend of service trade liberalization. China will conduct a high-level opening pressure test in the pilot free trade zone and Hainan free trade port, and issue a negative list of cross-border service trade in the pilot free trade zone. I think the free trade port and the pilot Free Trade Zone shoulder important tasks. First, fully implement the negative list management system of cross-border trade in services. It is suggested to comprehensively promote the negative list of cross-border service trade of Hainan free trade port in the existing pilot Free Trade Zone, so as to significantly improve the openness, transparency and predictability of service trade. Second, according to the requirements of benchmarking the highest level of openness in the world, a more streamlined, transparent and internationally connected negative list of cross-border service trade will be implemented in Hainan free trade port. Third, explore the service trade system of "both access and operation" in the pilot free trade zone. Fourth, increase the exploration of digital trade rules in Hainan free trade port and some pilot free trade zones. Fifth, compare the latest international economic and trade agreement rules, promote the institutional opening-up process of the service industry, and promote the docking of internal and external standards in the service industry. Sixth, promote fair competition in the field of service trade. For example, promote the transformation of industrial policy from industrial policy to fair competition; Strengthen the fair competition review of the service industry; Increase the "competition neutral" stress test in Hainan free trade port and free trade pilot zone to play a pilot role. The key to opening up the field of service trade is ideological emancipation and concept renewal. The key to achieving higher quality development of service trade is to promote the opening of service market with great ideological emancipation. To achieve an important breakthrough in the high-quality development of service trade, we need various measures. For example, promote the construction of Guangdong Hong Kong Macao Bay area with the integration of service trade, and take the lead in promoting the full opening of Guangdong's service industry to Hong Kong and Macao. In addition, we should make good use of the pilot and stress test role of free trade pilot area and Hainan free trade port in the opening of service trade. According to general secretary Xi Jinping's stress test, we should increase the free trade pilot area and Hainan free trade port in a high level of openness in service trade. Finally, we need to promote deep-seated institutional changes in institutional opening, build international service industry rules, regulations, management and standards, and form a policy and institutional system suitable for the high-quality development of service trade. 3、 Form a new advantage in the development of service trade in Suzhou Industrial Park with "double zone linkage" Suzhou Industrial Park is not only an important carrier of China Singapore cooperation, but also an important part of Jiangsu pilot free trade zone; It not only carries the important mission of leading China Singapore cooperation, but also undertakes the major task of building a new highland of institutional opening with institutional innovation. It is suggested to form a new advantage of self height level openness in the "double zone linkage" and strengthen its own system innovation in service cooperation. 1. Narrow the gap with Singapore in international economic and trade agreements on the level of elevation. For example, take the lead in fully implementing China's commitments in the RCEP agreement in Suzhou Industrial Park. Second, on the basis of referring to RCEP rules, Suzhou Industrial Park has formed new advantages in opening up. Third, it is suggested to try some provisions of cptpp first. For example, benchmark the relevant standards of cptpp in the fields of competition policy, reduction of technical barriers to trade, cross-border trade in services and so on. 2. It is suggested to explore and carry out in-depth institutional innovation against Singapore. First, the reform and innovation of administrative management system. It is suggested that Suzhou Industrial Park establish an executive system of the nature of legal institutions in the fields of economic management, investment attraction and market supervision, and learn from the practice of Hengqin Guangdong Macao deep cooperation zone to implement a more flexible and efficient administrative system. The second is the reform and innovation of the arbitration system. Although Singapore's international arbitration service started late, it has developed rapidly. The Singapore International Arbitration Center, established in 1991, has become one of the five most popular and widely used international arbitration institutions in the world. The important reason for its success lies in constantly benchmarking international high standards and improving the international arbitration system. 3. Deepen cooperation with Singapore and jointly explore the ASEAN market. For example, promoting the process of digital economy cooperation with Singapore; Promote in-depth cooperation in manufacturing industry focusing on the liberalization and facilitation of producer services trade; Cooperate to establish an intellectual property protection and trading center; Cooperate with Singapore to jointly develop the ASEAN service market. President Xi Jinping delivered the keynote speech at the opening ceremony of the fourth China International Import fair, which said: "China's determination to expand high-level openness will not change. The determination to share opportunities with the world will not change. The determination to push economic globalization towards a more open, inclusive, inclusive, balanced and win-win development will not change." As the world's most potential market with a population of 1.4 billion and more than 400 million middle-income groups, China's high-level opening-up to promote the construction of a new development pattern is not only of decisive significance to its own high-quality development, but also will have a significant and positive impact on world economic growth and stability. (Xinhua News Agency)

Edit:Ming Wu    Responsible editor:Haoxuan Qi

Source:XinhuaNet

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