Effects of COVID-19 Epidemic on China's Service Trade and Counter measures

Abstract

The spread of COVID-19 had a serious impact on China's foreign trade, and the population-intensive service sector was hit hard during this period. Due to the heterogeneity of service industries, the import and export of different service industries were significantly different before and after the epidemic, and the service import was much more significantly affected. Based on the survey data of service trade enterprises, it was found that the epidemic has different impacts on different periods, regions, industries and types of enterprises. The epidemic had a greater impact on eastern regions, traditional service industries and small and medium-sized private service enterprises. During the epidemic period, service enterprises were mainly faced with the pressure of capital, international market development and order transfer, and therefore put forward the political appeal of "strong publicity, increase of expenditure and decrease of cost". In view of the development characteristics of service trade and the main problems during the outbreak of the epidemic, the countermeasures and Suggestions are put forward, which can provide reference for alleviating the impact of the epidemic on service trade and promoting the transformation and upgrading of China's foreign trade.