Metaverse experience hall to debut at 2022 CIFTIS

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Aug 29, 2022, 02:09 ET

BEIJING, Aug. 29, 2022 /PRNewswire/ -- A report from People's Daily:

The 2022 China International Fair for Trade in Services (CIFTIS) is scheduled to be held at the China National Convention Center and Shougang Park and in Beijing from Aug. 31 to Sept. 5.

The event, with a larger exhibition area and more participants, is expected to become more international and professional. Green and innovative cooperation will be highlighted at the exhibition.

According to Yang Jinbai, vice mayor of Beijing, the exhibition area of the 2022 CIFTIS will be 26,000 square meters larger than that of the previous session, with its thematic exhibition area doubling from a year ago to reach 20,000 square meters.

As of Aug. 22, 1,407 enterprises had confirmed their on-site participation in the event, up 13.8 percent from a year ago, of which 446 are Fortune Global 500 companies and industry leaders. The overall internationalization rate stands at 20.8 percent, nearly 3 percentages higher than that in last year.

Vice Minister of Commerce Sheng Qiuping said the CIFTIS has been expanding continuously since it was launched 10 years ago, evolving into one of the three major platforms in China that serve to promote opening-up and international cooperation.

The past ten years witnessed the rapid development of China's trade service. During this period, the added-value of the country's service sector soared 1.49 times and cumulative trade in services exceeded $4 trillion, which has further cemented the country's advantage of having an ultra-large market.

As an international comprehensive fair held at the state-level, the CIFTIS will lead China's consumption trend and accelerate consumption recovery and upgrading. It will also create all-round opportunities for global enterprises to join China's service market and provide a platform for Chinese enterprises to exploit domestic and international markets and resources.

As of Aug. 22, 71 countries, regions and international organizations had confirmed to join the 2022 CIFTIS, including the 59 countries such as United Arab Emirates (UAE), Germany, and the UK, as well as 12 international organizations such as the World Meteorological Organization and the UNESCO, said Ding Yong, director of the Beijing Municipal Commerce Bureau.

Among them, 17 countries are ranked in the top 30th globally regarding service trade, five more than those from a year ago. Ten countries, including the UAE, Switzerland, and Italy, will hold exhibitions at the event in their countries' names for the first time.

At the Exhibitions of Countries, visitors can learn the latest development of participating countries' service trade and catch a glimpse of these countries' customs and cultures.

UAE, as the guest of honor country of this year's CIFTIS, will demonstrate its aviation, financial, advanced manufacturing and cultural services focusing on "diversified economy."

Thirty-three countries, including the Netherlands, Austria and Portugal, will host online exhibitions.

An environmental services sector is expected to be included in the 2022 CIFTIS to display new technologies and applications in ecological protection and energy conservation. Technology factors will be highlighted at the event, and a Metaverse experience hall will be unveiled at the event's Telecommunications, Computer and Information Services sector.

Yang introduced that the Metaverse experience hall, which is established at the Shougang Park, will display frontier technologies and achievements in Metaverse production and application.

Besides, Financial Services, Educational Services, Health Services, and Supply Chain Services sectors are expected to be maintained at this year's event to demonstrate new technologies, achievements, and business forms in these areas.

The Global Trade in Services Summit of the 2022 CIFTIS is scheduled to be held on Aug. 31. The CIFTIS Comprehensive Exhibition will be held at the China National Convention Center. Special exhibitions include nine sectors. The Environmental Services sector will be held at the second-phase project of the China National Convention Center, and the rest eight at the Shougang Park.

The 2022 CIFITS will also include seven forums, 128 thematic forums and five side events. Visitor days of the exhibition start on Sept. 3 and end on Sept. 5.

SOURCE People's Daily