Wednesday, November 25, 2009

China to Expand Its Freight Services Industries

Major Opportunities for Investment Predicted
Shipping News Feature

CHINA – In a public speech an official from the Chinese Ministry of Commerce has emphasised that China wishes to expand its service industries to exploit the country’s burgeoning freight sector.

Wang Chao, the Assistant Commerce Minister, said at a conference held in Beijing yesterday that: “The growth in services plays an important role in driving the economy. Service trade is based on freight trade. With the increase of freight trade, related service trades, such as transportation, legal and financial cooperation, will grow further.”

He also stated that China’s growth in these sectors could make for excellent opportunities for foreign companies, predicting that China’s service imports in the next five years could massively increase.

(pic: Mr. Wang Chao)