Research On The Development Strategy Of Nanjing’s Trade In Service

The rapid development of trade in service has drawn scads of attention in the field of international economy ever since the beginning of 21 st century.In the last decade,trade in goods grew at a low rate while trade protectionism and disputes kept growing.Under these backgrounds,the scale of China’s trade in service has undergone rapid and steady development together with the opening up of China’s service industry,amounting from USD 4.34 billion in 1982 to USD 657.5 billion in 2016,ranking second in the world only next to America.The growth of trade in service has outdistanced the one in goods.It has become an important strategic mission for foreign economic research to find out the effective way to form and develop international comparative superiority of trade in service in the context of its rapid development and increasing engagement in international trade.Nanjing is the only megalopolis in Yangtze River Delta region and an important central city of eastern China.With the development of city and service economy,the opening up of service industry has become an important power in Nanjing’s open economy.Although Nanjing’s trade in service is growing relatively fast,there are some problems during the development,leading to the inappropriate scale and structure of trade in service.Opportunities and unprecedented challenges coexist for Nanjing’s trade in service in the context of trade-in-service liberalization and new open situation.Therefore,how to study the phase,driving force and future direction of development so as to ensure a sustainable and rapid growth of Nanjing’s trade in service becomes a major issue to be timely addressed.Based on the comprehensive analysis on current development status of trade in service at home and abroad,the theory of the enterprise strategic management,and Nanjing’s international and domestic economic environment and self-condition,this article focuses on overall analysis of internal and external surroundings and internal strength and weakness for Nanjing to develop trade in service through SWOT analysis.Meanwhile,by using indicators such as industrial foundation,trade dependence,international market share,trade competition index,and RCA index,the article also makes comparisons on competitiveness between Nanjing,Singapore,Hong Kong,Shanghai and other countries(regions and cities)to identify key areas and industries and provide policy suggestions on development path for Nanjing to develop trade in service.Specific research conclusions are as follows: For macro aspects,the first is to take measures such as developing productive service and service outsourcing to facilitate a coordinated development between trade in service and goods.The second is to establish the strategic position of trade in service to develop specific characteristics of trade.The last is to strengthen the foundation of service industry and expand opening up both externally and internally.For micro aspects,further adjustments in the industrial development direction of Nanjing’s trade in service shall be made according to the path of “consolidating advantageous areas,accelerating characteristic areas,and tapping potential areas”.Besides,six supporting measures are proposed to promote the development of Nanjing’s trade in service.The first is to expand opening-up in services industry and improve integration of service in trade and industrial development.The second is to promote transformation and upgrading of services trade.The third is to strengthen cultivation and service for leading enterprises on service trade.The fourth is to speed up the development of the international market.The fifth is to improve cultivation and introduction of talents on service trade.The sixth is to build and complete system and mechanism for trade in service.It is hoped that these research conclusions may offer theoretical reference for innovation of the development of Nanjing’s trade in service.