China's services trade fair contributes to China-Brazil ties, says Brazilian specialist

This year's China International Fair for Trade in Services (CIFTIS) will play a key role in bolstering China-Brazil relations by strengthening their channel of communication, according to Brazilian specialist Jose Ricardo dos Santos Luz Junior.

In an interview with Xinhua, Luz Junior, CEO of Group of Corporate Leaders in China (LIDE China), an organization aiming to boost trade between China and Brazil, said the CIFTIS will promote China's relationship with Brazil and the rest of the world, "especially in terms of trade in services, which is a fundamental pillar for the development of high-quality trade."

The CIFTIS is a major platform for trade in services in China, and this year the fair will take place on Sept. 2-7 in Beijing, focusing on topics such as the digital economy and carbon neutrality.

The new driving engine of China's economic growth is the digital economy, which is fundamental to economic recovery and the sustainable development of the global economy, said Luz Junior, citing figures from a white paper on the development of China's digital economy, which said the digital economy in China developed "with a high growth rate of 9.7 percent, accounting for 38.6 percent of China's GDP in 2020, at 6.1 trillion U.S. dollars."

The paper was issued by the China Academy of Information and Communication Technology in April this year.

"Areas such as e-commerce, telemedicine, smart cities, 5G telecommunications, big data, artificial intelligence and online education are some of the digital economy sectors that will promote high-quality inclusive development," Luz Junior said.

China has been Brazil's largest trading partner since 2009, and their trade in 2020 has exceeded 100 billion U.S. dollars, Luz Junior said.

China and Brazil, he noted, have complementary economies, with a long-term relationship that is reflected in Brazil's significant participation in CIFTIS.

"Brazil's participation creates the potential for exchange and business opportunities in the trade in services sector, especially the digital economy," he added.

"This year aims to promote business opportunities in the area of services in a comprehensive manner, both within the scope of the Chinese domestic market and the international market," Luz Junior said.