Guangzhou has introduced a set of measures to promote the high-quality development of service and digital trade. The 22 measures for service and digital trade aimto support local enterprises in optimizing structures, improving efficiency, and strengthening capabilities, with support of up to 1 million yuan for enterprises.
Expanding institutional openness
The measures focus on expanding institutional openness, particularly in aligning with international economic and trade rules. Guangzhou, a core engine of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), is actively promoting rule alignment with Hong Kong and Macao to enhance institutional openness. This includes deepening the opening of the service sector, promoting the connection of rules and mechanisms with Hong Kong and Macao, and improving the standardization of service trade.
Notably, the measures emphasize the importance of service trade standardization, encouraging the adoption of international standards and the development of regional and international standards in areas such as cross-border elderly care and internet arbitration.
Enhancing the value of service trade
Guangzhou's digital trade is becoming a key driver of the city's digital economy and global trade. The measures highlight the need to enhance the quality, environmental sustainability, and innovation of service trade. They support the development of emerging service trades such as finance, exhibitions, and human resources, and strengthen national and provincial service export bases in fields like digital technology, culture, traditional Chinese medicine, and intellectual property.
The city is also encouraging the application of digital technologies such as the internet, the Internet of Things (IoT), big data, artificial intelligence (AI), and blockchain in service trade to shape new advantages in digital trade development.
Supporting enterprises in international expansion
The measures provide comprehensive support for enterprises to expand into international markets, including financial support, tax services, export credit insurance, and statistical monitoring. A total of 300 million yuan has been allocated to support competitive, high-growth, and innovative service trade and digital trade enterprises. Enterprises can receive annual support of up to 1 million yuan through comprehensive evaluations.
Next, Guangzhou will continue to support innovation in service and digital trade enterprises, aiming to become a national demonstration zone for service trade innovation and a benchmark for the China Service national brand.