A press conference is held for the 2024 China International Fair for Trade in Services in Beijing on August 12, 2024 Photo: Chi Jingyi/GT

Beijing's Shougang Park, an industrial heritage site that was transformed into a hub of culture, has been renovated for China's upcoming international services trade fair, the Global Times saw during a media tour on Monday.

So far, 72 countries and international organizations have confirmed that they will attend the 2024 China International Fair for Trade in Services (CIFTIS), with 12 of them planning to set up independent pavilions for the first time, the Global Times learned.

The 2024 CIFTIS will be held from September 12 to 16 in Beijing, with Shougang Park designated as one of the two venues to host the event for the fourth time.

The CIFTIS is an international, comprehensive large-scale exhibition and trading platform for services trade. It showcases China's commitment to opening up its services sector and sharing its market potential with the world, analysts said.

New quality productive forces will be highlighted at this year's CIFTIS, Ai Yinfang, a deputy director at the China International Center For Economic and Technical Exchanges, said on Monday during a press briefing held at Shougang Park.

"A themed area and some special exhibitions will be set up to show the new models and business forms that have emerged from the integration of new quality productive forces and the modern services industry, high-end manufacturing industry and modern agriculture," said Ai.

According to Ai, the latest developments in technology will be showcased at the new quality productive forces exhibitions, covering artificial intelligence, meta-space, satellite internet, big data, financial technology, digital cultural tourism, energy conservation and carbon reduction.

At present, 93 percent of the exhibition area at the two venues of the CIFTIS - Shougang Park and the China National Convention Center - has been booked by enterprises from all over the world, Zhou Ling, a deputy director at the Beijing International Trade in Services Center, told a press briefing on Monday.

"At this year's services trade fair, France, as the country of honor, will set up a national pavilion on the 60th anniversary of the establishment of diplomatic relations between China and France, and hold activities on the fashion industry, sports, healthcare and investment to deepen bilateral cooperation," said Zhou.

She noted that the design of the French Pavilion will reflect elements such as the Arc de Triomphe and the Bir-Hakeim Bridge, highlighting French culture, tourism, sports, fashion and other services industries.

In recent years, China has pledged to advance the opening-up of its services sector, so as to unleash growth potential and share business opportunities with countries and enterprises worldwide. 

As China has been advancing the opening-up of the services sector, there's more demand for supply, Hu Qimu, a deputy secretary-general of the Digital-Real Economies Integration Forum 50, told the Global Times.

"China is pursuing the high-quality development of the services sector, aiming to boost services consumption," said Hu.

China has huge potential in the services trade. In the first half of 2024, its total trade in services was 3.598 trillion yuan ($501 billion), up by 14 percent year-on-year. 

Imports of services totaled 2.13 trillion yuan, up by 16.4 percent, accounting for 59 percent of the total, according to statistics from the Ministry of Commerce.