Chongqing to Reach 65% of the City’s Emerging Service Trade Exports by 2025

Chongqing- In March of this year, Chongqing has added two new national name cards in less than ten days. And now, Chongqing has set up its first national service export bases for traditional Chinese medicine (TCM) and human resources. 

Chongqing Taiji Industry (Group) Co., Ltd. was awarded as the national TCM service export base, and Chongqing China Industry Park of Human Resources Service was approved as the national service export base of human resources.

"Both bases' approval marks Chongqing to achieve zero breakthroughs in the national service export base," said an official from the Chongqing Municipal Commission of Commerce. 

This will not only facilitate local services trade enterprises development but will also accelerate Chongqing's service trade on its characteristic path. 

Chongqing China Industry Park of Human Resources Service. (Photo provided to iChongqing)

Industry leader 

The national service export base currently possesses 112 nationwide, covering seven fields of culture, Chinese medicine, digital services, human resources, geographic information, intellectual property, and language services.

Due to the numerous institutions in such fields across the country, the 112 ones that have been awarded are reckoned as the best in each industry. 

The awarding of Chongqing's two export bases relies on its powerful strength, said a relevant person of the municipal commission of commerce. 

For example, the Taiji Group is considered a critical sign for the city's foreign trade exports, which export more than 30 TCM products to more than 20 countries and regions annually. 

And in July 2021, the hold of the first National Human Resources Service Industry Development Conference in Chongqing is also a national recognition of the industrial park.

Inject vitality into related industries

What is the significance of the two national name cards for Chongqing? 

From the municipal commission of commerce, both bases will inject new momentum for industrial development and provide opportunities and platforms for Chongqing to better serve the new development pattern. 

Taking traditional Chinese medicine as an example, this industry is not simply the medical materials sale but also represents a substantial industrial chain that needs a leader to drive. 

"Now, Taiji Group is the leader in Chongqing's traditional Chinese medicine industry," said an official. 

Chinese Medicine Trade Fair in 2020. (iChongqing file photo)

With the qualification of a national service export base, Taiji Group can play its advantages to help more TCM enterprises to conduct international exchanges, letting more local enterprises go abroad. 

Meanwhile, Chongqing can seize the opportunity to accelerate the cultivation and gathering of TCM enterprises to form a complete industrial chain. 

Service trade development 

Taking advantage of this chance, Chongqing will take a series of initiatives, focusing on the difficulties that the main market players are concerned about.

In supporting facilities, Chongqing will support export bases from multiple dimensions, such as international certification, talent training, exhibitions, and public services.

And a host of international exchange events will support for Chongqing firms to expand their foreign market. 

"During the 14th Five-Year Plan period (2021-2025), Chongqing targets to build an important service trade base in the country, gathering a group of service trade brand enterprises with strong international influence and core competitiveness," said a relevant person of the municipal commission of commerce. 

He added that it strives to reach 65% of the city's emerging service trade exports by 2025, encompassing digital trade, finance, service outsourcing, technology trade, professional services, and others.