The 2019 Global Service Outsourcing Summit & the 3rd China (Wuhan) Summit of Innovative Development of Trade in Services is held in Wuhan, capital of Central China's Hubei province, on May 7. [Photo provided to chinadaily.com.cn]

The 2019 Global Service Outsourcing Summit & the 3rd China (Wuhan) Summit of Innovative Development of Trade in Services was held at the China Optics Valley Convention & Exhibition Center in the East Lake High-tech Development Zone (Optics Valley of China) in Wuhan, capital of Central China's Hubei province, on May 7.

With the slogan "Digital Trade Energizing the New Era", the event was co-hosted by the Chinese Academy of International Trade and Economic Cooperation, the Department of Commerce of Hubei Province, and the Wuhan municipal people's government. It aims to promote international exchanges and cooperation in service trade and the service outsourcing industry.

Nearly 500 people from all over the world participated in the event, including senior managers from companies such as eBay, IBM, and Infosys and representatives from China's 31 service outsourcing demonstration cities and 17 service trade innovative development pilot areas.

Cooperation agreements were signed for a total of 14 projects, among which 11 are located in Optics Valley.

Summit forums on digital trade, digital economy, digital services, and the innovative development of digital services were held following the opening ceremony.

An exhibition area was also set up to showcase Optics Valley companies' innovative development of service trade and service outsourcing.

Optics Valley of China is currently home to 49 important service trade companies that are monitored by the Ministry of Commerce, and the number accounts for 40.8 percent of Wuhan's total.

Over the past year, the total value of the zone's service imports reached $521.09 million, and the value of its service exports reached $521.94 million. The zone's total service import and export volume accounted for 20 percent of Wuhan's total.

In May 2018, the Ministry of Commerce summarized and promoted nationwide the experiences of 29 pilot operations in the innovative development of service trade, among which seven were from Wuhan and four were from the Optics Valley of China.

Representatives sign cooperation agreements during the event in Optics Valley of China on May 7. [Photo provided to chinadaily.com.cn]

Attendees of the 2019 Global Service Outsourcing Summit in Wuhan, Hubei province, on May 7 [Photo provided to chinadaily.com.cn]