Service trade has also undergone tremendous expansion. When the People's Republic of China was founded, the country's service trade was almost zero. While in 2023, China's total service trade import and export volume reached 933.1 billion U.S. dollars, ranking fourth in the world.

　　The country is actively expanding imports to share market opportunities with the rest of the world. In 2023, China's import sources have covered over 200 countries and regions. The China International Import Expo (CIIE), the world's first national-level import-themed expo, has been held for six consecutive years.

　　“China should continue to offer new opportunities nurtured from its vast market to other countries by holding international fairs such as the CIIE, the China International Consumer Products Expo and the Global Digital Trade Expo,“ said Ma Xiangdong, a professor at the Party School of the Communist Party of China of Beijing Municipal Committee.

　　Continuous efforts have been made on lowering tariffs. China's overall tariff level has been reduced to 7.3 percent, approaching the average level of developed countries. The country recently announced a move to give all the least developed countries that have diplomatic relations with China zero-tariff treatment for 100 percent tariff lines starting from Dec. 1 of this year.

　　China has built 22 pilot free-trade zones, covering coastal, inland and border areas, contributing about 20 percent of the total foreign investment and import-export volume of the country.

　　The country also keeps expanding its “friend circle“ globally. By the end of 2023, China had signed 22 free-trade agreements with 29 countries and regions, and it had signed over 200 Belt and Road cooperation documents with over 150 countries and over 30 international organizations.