Smart Connection

Visitors gathered around a large screen displaying scenes from the video game Black Myth: Wukong, China’s first AAA title, where they learnt that the monkey king can move with lifelike fluidity, performing seamless actions, thanks to Virtual Motion’s state-of-the-art motion capture technology. 

“Our system can achieve positional accuracy up to 0.1 millimetres with a rotational error margin of less than 0.1 degrees,” said Liu Yaodong, president and CEO of Virtual Point. This precision allows the technology to handle multi-person motion capture with remarkable accuracy, making it invaluable for creating smooth and natural animations.

Innovation in service technology, especially digital services, stood out as a key highlight of this year’s China International Fair for Trade in Services (CIFTIS). Themed Global Services, Shared Prosperity, the fair opened on 12 September in Beijing. 

Since its inception, CIFTIS has been an important part of China’s contribution to building an open world economy. This year’s event has attracted 85 foreign countries and international organisations, providing a dynamic platform for showcasing innovations and fostering international cooperation.

At this year’s fair, 111 top global enterprises and institutions, including Fortune 500 companies, unveiled 219 cutting-edge achievements in fields including AI, digital services and health care. Notably, there was a significant increase in new product launches, with 110 debuting at the fair. Among them were groundbreaking technologies such as full-body precision diagnostic ultrasound systems, underscoring the fair’s role as a hub for practical collaboration and future-oriented innovation.

Focus on digital innovation

Digital services were a key highlight of this year’s CIFTIS, allowing companies like e-commerce giant Alibaba to showcase its latest innovations. The company’s international trade platform introduced its AI-powered business assistant, capable of dramatically streamlining the product listing process. During demonstrations, it was shown that by simply uploading a product image or providing a keyword, the virtual assistant could automatically generate a full product page, including titles, prices, keywords and images, cutting the time required from 60 minutes to just 60 seconds.

China’s telecommunications giants, including China Mobile, China Unicom and China Telecom, also showcased their latest AI breakthroughs made in collaboration with tech firms such as Baidu. 

According to a report on digital trade development and cooperation released at a forum of the fair, China’s digital services trade reached $366.6 billion in 2023, up 3.5 percent from the previous year. The country’s digital service exports now account for 4.9 percent of the global total, 1.6 percentage points higher than in 2019. Moreover, China has maintained a trade surplus in digital services for five consecutive years, with a net export value of $47.4 billion in 2023, an 11.1 percent rise year on year.

A Platform of opportunities

France, a regular participant and this year’s guest of honour, presented a grand show of the country’s attractions. Visitors to the French pavilion were greeted with impressive replicas of the Arc de Triomphe and the Bir-Hakeim Bridge over the Seine River, among others. These iconic Parisian structures aimed to offer an immersive experience that highlights France’s spirit of elegance, creativity, and innovation.

According to Jean-Maurice Ripert, French ambassador to China, the French pavilion events were centred around three core themes: health, sports, and “the allure of France.” Alongside the national exhibition pavilion, a series of meetings were held, offering attendees new insights and fresh discoveries. 

One standout was the immersive augmented reality exhibition on the restoration of the Notre-Dame Cathedral after its devastating fire. Attendees used electronic devices to scan exhibits and witness animated real-time visuals of the cathedral’s damage and its stages of restoration. Many of France’s renowned companies such as AXA and L’Oreal were present at the fair.

The fair is also seeing increased engagement of African countries. Ibrahim Ahmed, a trade officer at Nigeria’s consulate in Shanghai, expressed satisfaction with the country’s first participation in the event. He emphasised that China’s ongoing opening up policy has been instrumental in strengthening China-Nigeria trade relations, allowing Nigerian products greater access to the Chinese market. “China’s consistent encouragement of foreign products into its domestic market is positively impacting our bilateral trade,” Ahmed noted.

The CIFTIS platform encourages a two-way exchange where international enterprises are introduced to the Chinese market, while Chinese brands expand their global reach. This model of interaction has enriched global trade in services and opened new doors for both Chinese and foreign enterprises.

China’s major corporations also took the opportunity to promote their businesses. JD.com, one of China’s leading e-commerce giants, announced at the fair strategic collaborations with international logistics firms to build a globalised smart supply chain. “Open cooperation is key to high-quality development in the services industry,” said Wang Zhenhui, CEO of JD.com’s logistics company, adding that the company is committed to an open and win-win partnership as it endeavours to provide consumers with faster, more efficient services.

The fair also facilitated substantial cooperation between various international players. Over 56 matchmaking events were organised, including 10 overseas-oriented sessions. Several Chinese provinces, such as Sichuan and Hainan, hosted their own themed events, highlighting local strengths and projects to attract foreign investment. Beijing brought together 16 districts and development zones, each conducting live broadcasts and consultations to introduce their industry landscapes and support policies. The fair also created a digital platform for matchmaking, where over 5,300 business appointments were made. 

In light of the increasing interconnectedness of global economies, Tang Wenhong, assistant minister of commerce, highlighted the importance of the CIFTIS platform in deepening international trade cooperation. He emphasised that China’s new achievements in modernisation would continue to offer growth opportunities for the global economy. “CIFTIS has become a crucial platform for promoting global service trade cooperation, and its matchmaking efforts are expected to result in tangible outcomes,” Tang concluded.