In 2015, China’s total import and export services amounted to US $ 713 billion, an increase of 14.6% and a growth rate of 2 percentage points over 2014. Of which services exports 288.19 billion US dollars, an increase of 9.2%; service imports 424.81 billion US dollars, up 18.6%; service trade deficit reduced to 136.62 billion US dollars.
During the 12th Five-Year Plan period, China’s service trade grew at an average annual rate of more than 13.6%, and the global ranking of services was continuously improved. According to the World Trade Organization statistics, China’s export and import growth rate of services in 2015 are significantly higher than the global level, service exports and imports accounted for the global share of 4.9% and 9.6%, the total trade in services ranked second in the world, Which services imports and ranked first in the US gap narrowed to 32 billion US dollars (calculated by the World Trade Organization data).
In the first quarter of 2016, China’s service trade maintained rapid growth, with a total import and export volume of US $ 181.71 billion, up 16.3% year-on-year.
In the first quarter of 2016, Chinese imports were US $ 121.47 billion, up 29.1% year on year, and exports were US $ 65.64 billion, down 1.7% year on year and the trade deficit was US $ 55.83 billion. Insurance services, processing services, maintenance and repair services, travel services imports are achieved rapid growth, intellectual property use fees, construction services, processing services exports decreased significantly.
In the first quarter of 2016, only the tourism services in the traditional service achieved positive growth, and the import and export volume reached US $ 84.9 billion, up by 40.3% year on year, accounting for 45.4% of the total trade in services. Spring Festival holiday Chinese outbound travel hot, driven by tourism services increased by 64.3%. Transport services and construction services import and export are a greater degree of shrinking, respectively, down 19.5% and 17.9%, accounting for the proportion of total imports and exports of services to further decline.