Zhejiang-themed Day activities are held during the ongoing 2020 China International Fair for Trade in Services (CIFITS) at the China National Convention Center in Beijing on Sept 6. [Photo/zjol.com.cn]

A number of activities for Zhejiang-themed Day were held during the ongoing 2020 China International Fair for Trade in Services (CIFITS) at the China National Convention Center in Beijing on Sept 6.

The activities focused on Zhejiang's achievement in digital services, particularly the province's online exhibition platform for trade in services, which was recently cited by the State Council as a successful example of improving trade in services.

Three cooperation agreements, which were facilitated by the aforementioned online exhibition platform, were signed on site. The Zhejiang TV Station International Channel signed an agreement on broadcasting its documentary, Liangzhu, with broadcasting companies from Russia, Italy, Portugal, Greece, Egypt, Malaysia, Singapore, and more. The Zhejiang Provincial Department of Commerce and the Hong Kong Trade Development Council signed a memorandum on Zhejiang-based companies' increased use of HK's financial service platforms.

Since the coronavirus outbreak, Zhejiang has hosted 17 online expos for trade in services involving animation, video games, digital city development, traditional Chinese medicine, cultural tourism, internet of things, films and television, etc. A total of 625 exhibitors and 1,054 overseas buyers attended the online expos and conducted 2,014 online negotiations, which lead to $50.55 million in intended transactions. The province's online exhibition platform has so far received 200,000 visits, making it a new marketing channel for service trade firms.

"Zhejiang is very strong in trade in services, and has one of the highest such trade values among all Chinese provinces. In particular, Zhejiang has the country's second largest international service outsourcing sector," said an official from the Zhejiang Provincial Department of Commerce. Over the first seven months of this year, the value of the province's foreign trade in telecommunications, computers, and information services surged by 46 percent year-on-year to 81.2 billion yuan ($11.9 billion). Meanwhile, the province's international digital trade was valued at 144.4 billion yuan, up 33 percent from the previous year.

CIFIT visitors experience virtual reality technology at the exhibition booth for Zhejiang province. [Photo/ zjol.com.cn]