The city of Wuhan in Central China's Hubei province is to further promote the development of its service trade, after a plan for comprehensively deepening the innovative development of trade in services was approved on Oct 10, according to local media reports.
In August this year, the State Council approved 28 pilot projects for comprehensively deepening the innovative development of the service trade. Wuhan was on the list, marking the third time the city had been selected.
According to the implementation plan,Wuhan is to further expand the scale of service trade and optimize its structure, as well as further enhancing service export capabilities, so as to develop a group of characteristic service industry clusters in the city.
Wuhan will take the lead in service trade management systems, promotional mechanisms, policy systems, regulatory models, and business innovation to maximize market vitality and innovation, and promote foreign trade transformation and upgrading and high-quality development.
Wuhan has long been a frontrunner in innovation and in the development of the service trade.
As early as 2016, with the approval of the State Council, Wuhan became the only service trade innovation development pilot in Central China. In 2018, Wuhan was again selected as a pilot city for deepening service trade innovation development.
Over the past four years, Wuhan city's service trade innovation development pilot work has achieved positive results. The city's experience has been promoted nationwide, with five innovative cases being selected as excellent practice cases for national service trade innovation development.
