STORY: Development in China's services industry offers opportunities to world: former Pakistani official
DATELINE: Aug. 29, 2023
LENGTH: 0:02:29
LOCATION: Islamabad
CATEGORY: ECONOMY

SHOTLIST:
1. various of China
2. SOUNDBITE 1 (English): HAROON SHARIF, Former Minister of State for Investment of Pakistan
3. SOUNDBITE 2 (English): HAROON SHARIF, Former Minister of State for Investment of Pakistan
4. various of China International Fair for Trade in Services 2022 (File)

STORYLINE:

A former Pakistani official has said China's services industry has made marked progress, with industrial structure improved and new drivers emerging. 

Haroon Sharif, Pakistan's former minister of state for investment, said that the development in China will bring new opportunities to the world.

SOUNDBITE 1 (English): HAROON SHARIF, Former Minister of State for Investment of Pakistan
"Now, what I see there is a very clear progressive shift in China. China is investing in adding quality and diversifying its exports and services. China has consciously decided to invest more in information technology. China has consciously decided to build its own semiconductors. China has consciously decided basically to develop hospitality services. And more importantly, China has also started working on enhancing domestic demand. So their dependence on the West will gradually diversify. And the West and the regional countries would be far more interested to look at services value chains, where they can be the suppliers to higher value-added services in China. China is diversifying its services pool from just the construction and travel, and some of the technology-based things to more sophisticated skills. That will also give China a balance in its exports and imports of services."

Speaking of the China International Fair for Trade in Services 2023, scheduled to take place in Beijing from Sept. 2 to 6, Sharif said the fair can generate progressive ideas that contribute to building a more balanced world. 

SOUNDBITE 2 (English): HAROON SHARIF, Former Minister of State for Investment of Pakistan
"There's absolutely no doubt that this is a very, very important event. This will generate progressive ideas, particularly linked to climate change, particularly linked to information technology dependence on the West. The risk element globally can only be controlled by diversification of products and services. And this is basically an effort to diversify the services which have been monopolized by a few Western countries and that can lead to a more balanced world."

Xinhua News Agency correspondents reporting from Islamabad.
(XHTV)