The rapid development of China ‘s service trade

The rapid development of China 's service trade

China’s Ministry of Commerce released data on the 16th, this year, China’s service trade to maintain rapid development trend.

In the case of the Chinese Ministry of Commerce issued the above data at a regular conference held on the day. Data show that from January to July this year, China’s total import and export services reached 335.7 billion US dollars, an increase of 14.3%. Among them, the service exports 113.02 billion US dollars, an increase of 16.7%; service imports 204.67 billion US dollars, an increase of 12.7%.

In the case of Ministry of Commerce spokesman Shen Danyang 16, this year, China’s high value-added services import and export growth. From January to July, the import and export of film and video, financial services, computer and information services, royalties and royalties, consultancy services and advertising import and export increased by 55%, 42.4%, 26.8%, 24.4% and 16.6% respectively and 15.6 %. Other business services exported 30.85 billion US dollars, an increase of 65.5%, becoming the largest category of China’s exports of services; consulting services exports 24.6 billion US dollars, up 12.1% over the same period last year, more than transport to become China’s third largest export category.

In the case of at the same time, China’s traditional trade in services accounted for a downward trend. From January to July, traditional services (tourism, transport services and construction services) accounted for 59% of China’s total imports and exports, down 3.4 percentage points from the same period last year. Among them, tourism imports 83.8 billion US dollars, an increase of 16%, accounting for the proportion of imports accounted for 40.9%, continue to join the first Chinese imports of services. Affected by the decline in the growth of trade in goods, import and export of transport services increased significantly, up only 0.5% year on year. Construction services recovery significantly, import and export growth of 15.2%, of which exports grew 16.8%.

In the case of it is worth mentioning that China’s trade deficit has narrowed the trend. From January to July, the trade deficit was $ 73.65 billion, up 6.3% year on year. However, due to the first seven months of service export growth in recent years for the first time exceeded the service import growth, deficit growth showed a narrowing trend. The trade deficit is mainly concentrated in tourism, transportation services, royalties and royalties and insurance services, the industry deficit of 1113.7 billion US dollars.

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