On the afternoon of October 11, Shanghai Municipal Commission of Commerce (SMCC) and Shanghai Eastday Co., Ltd. signed the Memorandum of Cooperation (MOC) on Expanding the Overseas Markets for Trade in Services, aiming to jointly build a platform for the expansion of overseas services trade market and brand promotion, complementing the existing media-or-Internet-based overseas promotion channels.
SMCC will, in further cooperation with service trade enterprises and platforms such as eastday.com, roll out a series of activities for the purpose of “Shanghai Services Going Out”, including building overseas promotion centers for service outsourcing, technology trade, and cultural trade, hosting overseas services trade exhibition and brand promotion activities, distributing guidebooks on Shanghai’s key overseas market expansion plan and brochures about the provided overseas services, highlighting flagship services suppliers and demonstration projects, with a view to increasing the export of services, building up brand recognition and influence, accelerating the formation of an overseas market expansion scheme for trade in services centered on the Belt and Road Initiative.
The cooperation is believed to be a new measure to push forward the development and innovation of Shanghai's pilot services trade. According to the MOC, both parties will make full use of their advantages to establish “Shanghai Services Trade Overseas Promotion Centers” and build a high-end “Shanghai Service” brand, while improving the existing media-or-Internet-based overseas promotion channels, creating a nurturing business environment for Shanghai’s trade in services.