China International Fair for Trade in Services opens for the first time a hall offering 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. The CIFTIS will spread over a wider area and attract more participants. With more international influence and more and more professional, CIFTIS will emphasize green and innovative collaboration.

According to Beijing Deputy Mayor Yang Jinbo, the size of the exhibition space and the number of personally participating companies in 2022 surpassed those of the previous edition. The area of ​​the exhibition space has been increased by 26,000 square meters, and the themed exhibition area has been doubled to 20,000 square meters. Until August 22, excluding exhibitions dedicated to countries, provinces or cities, 1,407 companies will participate in the face-to-face CIFTIS, an increase of 13.8% over a year. Among these companies, there are 446 FORTUNE Global 500 companies and companies with global leadership positions.

Photo shows the exterior of Shougang Park, which will host the China International Fair for Trade in Services (CIFTIS) on August 23, 2022. (He Luqi/Pic.people.com.cn)

CIFTIS has grown steadily since its first edition and has already become one of three exhibitions showing China’s opening up, said Sheng Qiuping, vice minister of commerce. In the ten-year history of CIFTIS, trade in services has developed rapidly in China. During this period, the value added of China’s service sector has increased by 1.49 times and imported services totaled more than $4 trillion, bolstering China’s lead with its mega-market.

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

Photo shows the exterior of Shougang Park, which will host the China International Fair for Trade in Services (CIFTIS) on August 23, 2022. (He Luqi/Pic.people.com.cn)

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

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

Photo shows the exterior of Shougang Park, which will host the China International Fair for Trade in Services (CIFTIS) on August 23, 2022. (He Luqi/Pic.people.com.cn)

Visitors can learn about the development of trade in services of different countries and learn about local customs and cultural features in the area dedicated to each country. The UAE, guest of honor at CIFTIS, will host its exhibition on the theme of “diversified economy” and show its financial, cultural and aviation 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.

The new thematic exhibition on environmental services, created during this edition of CIFTIS, will showcase new eco-responsible technologies and applications to protect the environment and reduce energy consumption. Emphasis will be placed on new elements of digital technologies and a space will give a “metaverse” experience in the space dedicated to telecommunications services. Thematic exhibitions will also be organized on financial, business, education and health services and the supply chain to showcase new progress, practices and business forms and new technologies.

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

The Global Services Trade Summit will take place on the evening of August 31 during CIFTIS. The general exhibition takes place in the National Congress Center. CIFTIS 2022 is planning nine themed exhibitions, eight of which will be held in Shougang Park, and the new environmental services exhibition will be held in Phase II of the National Conference Center. Seven high-level forums, 128 thematic forums and five side events will be organised. The CIFTIS welcomes the public from 3 to 5 September.

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