China's service trade fair closes with over 900 deals, focuses on digital innovation

BEIJING -- The 2025 China International Fair for Trade in Services (CIFTIS) concluded in Beijing on Sunday with over 900 signed agreements in sectors including construction, information technology and finance, highlighting robust global participation and digital trade innovation.

Held at the city's Shougang Park, the event drew participants from more than 60 countries and over 20 international organizations. Fortune Global 500 companies, unicorns, and industry-leading companies unveiled 198 achievements in fields such as artificial intelligence, fintech, healthcare and green technology.

Among these, 109 were new product launches, featuring innovations in precision medicine, ultra-high-definition audiovisual technology, photonic quantum computers, and bionic cell sensors.

"We will further leverage CIFTIS' role as a platform to promote development, expand openness and foster innovative cooperation, ensuring that the outcomes and consensus reached at this year's fair translate into tangible results," said Zhu Guangyao, an official with the Department of Trade in Services and Commercial Services of the Ministry of Commerce.

The fair saw active deal-making, with Australia, this year's guest country of honor, securing 15 cooperation intentions with Chinese partners in finance and education.

More than 8,500 business meetings were initiated on the fair's digital matchmaking platform, while professional attendance increased by 12 percent year-on-year to about 116,000 visitors.

A total of 45 cultural, commercial, tourism, and sports activities, including performances, sports events, and consumer markets, were held at distinctive locations of Shougang Park, with 11 curated business tours offering immersive insights into investment, culture, and industrial tourism, according to Zhang Huayu, deputy director of the Beijing Municipal Commerce Bureau.

The five-day event attracted more than 250,000 onsite visitors and featured about 5,600 virtual exhibitors. International participation expanded, with on-site exhibitor representation from 26 of the world's top 30 countries and regions in terms of services trade.