Today, Global Future Cities Alliance (GFCA) signed a memorandum of cooperation with China Association of Trade in Services (CATIS) at the 5th China Beijing International Fair for Trade in Services (CIFTIS), announcing a partnership between the two parties to accelerate smart city development in China.
GFCA is a non-profit organization focusing on smart city industry. It is an international communication and cooperation platform which integrates standard research and development, technology application promotion, industry chain cooperation, talent training, investment and financing. Members of the alliance include NGOs, government agencies, research institutions, companies, investment and fund firms.
China Association of Trade in Services (CATIS) was established in 2007 by the Ministry of Commerce of China. As the country’s only national non-profit social organization of trade in services. CATIS aims to integrate resources and to establish national service trade coordination and promotion platform; to assist the government in formulating and improving the service trade laws and regulations; and to promote Chinese service brands worldwide and enhance the international influence of China service.
China has seen fast development of smart cities. According to a report by Deloitte, China has about 500 smart city pilot projects, the highest number in the world. A Frost & Sullivan study says that by 2025, more than 50% of Asian smart cities will be in China. Smart city projects will generate $320 billion for China’s economy, compared with $2 trillion market value worldwide. Studying and cultivating Chinese market is of strategic significance to the global smart city industry.
The CATIS-GFCA partnership will combine strengths of each party to introduce the world’s leading technologies and methodologies into China, promote the construction and operation standards and best practices, and improve services of China smart city industry.
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
Also at CIFTIS, in responding to the “Beijing Declaration on Global Service In Trade in Services” issued by the Chinese government and United Nations Conference on Trade And Development(UNCTAD), CATIS and a few other organizations including GFCA jointly initiated the “Action Plan for Promoting Capability-building in Trade In Service of Countries along the Belt and Road Initiative“, to promote the development of the Belt and Road initiative and globalization with new development concepts, new cooperation mechanisms and new business models.