Services

Component Introduction

Services constitute a significant and growing share of the world economy, however service-related trade contributes to only 40% of China's GDP. Compared with an average of about 50% of GDP in other developing countries and 70% of EU GDP, there is potential for China to significantly develop its service sector. In 2008, the EU27 exported 20.3 billion Euro of services to China, while imports from China amounted to 14.5 billion Euro in services, a surplus of 5.8 billion. The Chinese government sees the services industry as a priority and an opportunity to contribute substantially to decades of future GDP growth, providing employment in both urban and rural areas.

EUCTP activities will support the Chinese government in its push to expand the services sector. In particular, the project will help China to draw on European experience, for instance, in developing financial markets and compiling statistics on services trade, by organizing study visits, seminars, training and other activities. These activities will enable China to improve its regulatory framework for services; to better monitor service-trade statistics; to raise the capacity of regulators; to monitor risks in new products and services; and to increase competition in the services sector. The Project will focus on the following sectors:

  • Financial stability
  • Banking
  • Insurance
  • Securities
  • Legal services
  • Telecommunications
  • Creative industries, such as cultural services
  • Tourism
  • Overall services, such as services-trade statistics

 

Team Introduction

Huang Danhan – Component Expert
Mrs Huang Danhan was the first Chinese lawyer to graduate from a French university with a State Doctor's degree in Law after China began its opening up process. With more than 30 years of experience, Mrs. Huang has worked for the Chinese government, Chinese banks and law firms, as well as in academia and on the EU-China Trade Project. She has worked extensively with Chinese legislators and financial regulators on reform initiatives, and has a deep knowledge and understanding of services-market liberalisation and regulation, financial and legal services, and trade and investment reform—both in China and Europe. Mrs Huang is a leading Chinese expert in financial services and her knowledge of the legal and regulatory environment for services is extensive. She served as a member of the First Session of the Public Offering Examination and Approval Commission under the China Securities Regulatory Commission from 1993 to 1995. She has been the incumbent People's Republic of China Board Director of the West African Development Bank and was an Independent Non-Executive Director of Bank of China (2007-2013).