DHAKA: China has set a target of reaching US$1 trillion worth of trade in services by the year 2020, according to a newly released economic planning policy paper that emphasised a shift away from the export of goods.

The State Council, China’s cabinet, said in a document released on Saturday that it would provide total policy support to raise the export value of services relative to goods, reports The Straits Times.

The document represented the first instance of China’s government outlining an effort to boost service exports as a national strategy, according to a state television report on Saturday.

‘Our country’s service exports have risen quickly in recent years but still lack competitiveness internationally,’ the State Council said in the paper dated January 28.

BDST: 1944 HRS, FEB 14, 2015