A robot offers services at the booth of the Global Alliance for Trade in Services during the 2023 CIFTIS. WANG JING / CHINA DAILY

An avatar at the Qualcomm booth simulates gestures of a visitor. WANG JING / CHINA DAILY

CIFTIS showcases latest innovations including autonomous couriers and digital money

The digital trade is becoming a trend in international trade development and a key driver of future trade growth. This is being showcased at the ongoing China International Fair for Trade in Services, where products are drawing visitors' attention.

At this year's CIFTIS, running from Saturday to Wednesday in Beijing, more than 60 companies and institutions have debuted a range of products and technologies in the fields of artificial intelligence, financial technology, cultural creativity and others.

The practical implementation of new-generation information technologies, including big data, cloud computing and the internet of things, has transformed these concepts from PowerPoint presentations and data into tangible products and services.

In the logistics and transportation exhibition area at Shougang Park, one of the venues of the fair, industry-specific digital technologies and cutting-edge products are drawing attention.

The express mail service unit of State-owned China Post, EMS, is showcasing a smart envelope with intelligent identity lock. Meanwhile, Alibaba's logistics arm, Cainiao Network, is displaying an overseas warehouse dispatch central system.

SF Express is presenting a smart delivery robot and a workstation that integrates weighing, photographing and sorting at CIFTIS.

SF Express initiated trials of intelligent robots for deliveries back in June. These robots assist workers by completing the last 100 meters of delivery. This can reduce costs, decrease workloads and improve efficiency.

Meituan's fourth-generation unmanned drone, which is being showcased at the event, focuses on urban low-altitude logistics. It has operated in Shenzhen, Guangdong province, and Shanghai, completing more than 167,000 deliveries of various products by May.

At the ZTO Express booth is an electric and fuel-powered delivery drone capable of serving in various scenarios, including last-mile delivery, medical emergencies and rescue operations.

A staff member explained that ZTO can achieve real-time monitoring of their delivery drones' flight status with a high level of accuracy, down to centimeters, thanks to the company's self-developed drone control platform.

In the financial services area, there is a section dedicated to the digital renminbi, attracting companies like Tencent, Industrial and Commercial Bank of China and JD.

Tencent is presenting its digital solutions, such as a wallet quick payment product and a digital RMB red packet assistant as part of its efforts to promote digital RMB adoption.

ICBC and JD are jointly showcasing a scenario called Digital RMB Programmable Supply Chain Finance, which has completed its first transaction in procurement finance.

The scenario uses digital RMB smart contract technology, which integrates ICBC's digital RMB smart custody product into JD's supply chain finance platform to automate the entire process, from applications to disbursements and repayments.

Since the launch of the first nationwide digital RMB consumption on an e-commerce platform in December 2020, JD has attracted nearly 15 million users, established close to 20 million digital RMB wallets, and accumulated transactions exceeding 3 billion yuan ($413 million), according to a JD representative.

Chen Chunjiang, assistant minister of commerce, said at the fair that technological revolution and industrial transformation are advancing rapidly, leading to the development of the global digital economy. The digital trade is emerging as a trend in international trade development and as an engine for future trade growth.

According to the World Trade Organization, digital technologies are projected to contribute to an annual increase of 1.8 to 2 percentage points in global trade by 2030.

In 2022, China's exports and imports of digital services reached 2.51 trillion yuan, marking a year-on-year increase of 7.8 percent.

In the first half of this year, China's digital services grew 12.3 percent year-on-year, outpacing the overall growth rate of the service trade by 3.8 percentage points.

Notably, exports of digitally deliverable services surged 16 percent, surpassing the overall growth rate of service exports by 21.9 percentage points, which highlights the accelerated digitization process in the field.

Jiang Xiaojuan, president of the China Society of Industrial Economics, said at the CIFTIS that digitalization can accelerate the overseas market expansion with lightweight assets. Today, globalization driven by digital technology extends far beyond traditional trade and service sectors and is advancing into the realm of technology.