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Driven by Innovation, Led by Green and Empowered by Digitalization, China Draws a Blueprint for the High-Quality Development of Foreign Trade during the 14th Five-Year Plan

Source:Executive Committee Office

Date:2021.11.25

Recently, the State Council approved the Ministry of Commerce of the People's Republic of China and other departments to organize the implementation of the 14th Five-Year Plan for High-quality Development of Foreign Trade (hereinafter referred to as the “Plan”). The Plan has put forward the guiding ideology, basic principles, main objectives, key tasks and safeguard measures for the high-quality development of foreign trade during the 14th Five-Year Plan period.


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(Photo Credit: CFP.CN)

The Plan has put forward that, for foreign trade, it is necessary to adhere to accelerating the transformation of development mode driven by innovation during the "14th Five-Year Plan" period; adhere to accelerating the green and low-carbon transformation led by green; adhere to accelerating the digital transformation empowered by digitalization; adhere to enhancing the level of open cooperation with mutual benefit; adhere to enhancing risk prevention and control capabilities with safe development.

The Plan looks forward to the high-quality development prospect of foreign trade in 2035, and puts forward that during the "14th Five-Year Plan" period, efforts will be made to further enhance the comprehensive strength of trade, further improve the level of cooperative innovation, further enhance the ability of smooth circulation, further deepen open trade cooperation and further improve the trade security system.

The Plan has defined 45 key tasks and formulated safeguard measures in 6 aspects in terms of optimizing the trade structure of goods, innovating and developing service trade, accelerating the development of new trade formats, improving the digital level of trade, building a green trade system, promoting the integration of domestic and foreign trade, ensuring the smooth operation of the supply chain for foreign trade industry chain, deepening the smooth trade cooperation of "the Belt and Road initiative", strengthening the risk prevention and control system and creating a good development environment

2021 China International Fair for Trade in Services (CIFTIS) was held at China National Convention Center and Shougang Park during September 2-7, 2021. Focusing on the new trend of digital development of service trade, the CIFTIS has set up a special exhibition area of digital services for the first time with the theme of "Towards Digital Future and Service Driven Development". At the same time, the Forum on Trends and Latest Development of Digital Trade and relevant professional meetings were held to comprehensively display digital and intelligent new technologies, new models, new business forms and new achievements, building a platform for global digital trade exchange, display and trading.

At the Summit Forum on Digital Trade Development Trends and Frontiers held during the CIFTIS, Wang Bingnan, Party member and Vice Minister of the Ministry of Commerce of the People's Republic of China, pointed out in his speech that in recent years, China has actively promoted digital industrialization and industrial digitalization, and promoted the deep integration of digital technology with economic and social development. China's digital trade is developing rapidly, and its scale and growth rate rank among the top in the world. Vigorously developing digital trade and actively carrying out international cooperation in digital trade is not only an important way for China to advance supply-side structural reform and transform growth drivers, but also a strategic choice to promote positive interplay between domestic circulation and international circulation and develop new systems for a higher-standard open economy, and a powerful step to promote economic recovery after the epidemic and to actively cope with momentous changes in the world of a kind unseen in a century.


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"Carbon peaking” and “carbon neutrality" were two of the important keywords at this CIFTIS. Around the two keywords "carbon peaking and carbon neutrality", over ten relevant series activities were held, including "China Carbon Neutral Development Forum", "Green Development Forum", and “Carbon Neutral Economic Development Forum”, in which active discussion was conducted on how to achieve the "dual carbon" goal, strengthen the role of service trade in energy conservation and emission reduction, construct a green development mode and lifestyle, and promote the global ecological civilization construction.

At the "Green Development Forum—Low-carbon, Zero-waste City Construction" held during the CIFTIS, Wang Bingnan said that green development was not only the main theme of high-quality economic development in the future, but also the inherent feature and development trend of high-quality development of service trade. Firstly, the service trade itself has green attributes. Knowledge-intensive services, such as education, finance, information technology, culture and entertainment, are all green trade, and traditional service trade, including tourism and transportation, is also accelerating the pace of transformation. Secondly, energy conservation and environmental protection, environmental services, new energy services, green and low-carbon technology services and others have provided strong basic support for the green transformation of the manufacturing industry and greatly promoted the green transformation process of related industries. Thirdly, green and low-carbon transformation is more a systematic social change than an industrial change, which not only affects service trade from the supply side, but also stimulates people's new consumption demand for a green lifestyle from the demand side.


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(Photo Credit: zgcsjs.org.cn)

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