Why this is important to Wisconsin businesses: Opportunities for Wisconsin exporters of services
In a meeting this month, China’s State Council decided to accelerate development of trade in services and further open up China’s service market.
The policy trend will provide more opportunities for foreign service-sector companies expanding their exports to the China market. China is seeking to increase service and merchandise trade by increasing accessibility and convenience for overseas companies and gradually opening up the finance, education, culture and medical treatment sectors.
In the meeting,the council decided to launch pilot programs in 10 cities and five national-level new investment areas. More flexible administration and diverse development models will be carried out in the regions. Furthermore, financial subsidies will be available in the above regions for the importation of research and development needed urgently by the domestic market for energy conservation, environmental protection and related services. China plans to steadily increase the proportion of high value-added services, such as capital, and of technology-intensive and featured services among total imported services.
Wisconsin companies in various service industries should seize this opportunity for greater access to the Chinese market.