Shanxi boosts foreign trade in service sector

Shanxi's total volume of foreign trade in services is expected to exceed $6 billion, according to an official document on accelerating the province's service trade, announced on Jan 12.

The document said Shanxi province will make a deep exploration of its rich cultural and tourist resources which may play a bigger role in the future service sector.

As the service industry opens further, the industry's utilization of foreign capital and investment abroad expands, with service trade growing by an average of 15 percent annually and expected to account for more than 20 percent of export-import trade by 2020.

The province will expand the service trade sector by strengthening its advantage in tourism and the architectural products trade. World heritage sites such as the ancient city of Pingyao, Mount Wutai, and Yungang Grottoes, as well as the other tourist resources will enhance the province’s appeal as a tourist market.

It will cooperate with neighboring provinces and cities for smart tourism and will bolster international communication culture in areas such as traditional Chinese medicine, catering, performance and acrobatics, radio, film, education, and books.

Enterprises embodied with Shanxi culture are encouraged to go global to increase the province's popularity and influence across the world. Related policies and funds are also ready for the development of the service sector, especially in foreign trade in services.