The status of trade in services in international trade

The status of trade in services in international trade

HSBC’s latest “Global Trade Outlook” survey shows that benefit from the transformation and upgrading of China’s economy, service trade contribution to the Mainland’s economic growth will increase, China’s position in the global service trade will also be increasing.

The report predicts that by 2030, the scale of China’s service exports will grow to 818 billion US dollars, close to the current 3 times, and ranked third in the world’s major exporting countries, second only to the United States and the United Kingdom. At the same time, in the service import, with the sustainable development of consumer-driven economy and the increasingly international demand for services, China’s service imports will also maintain growth. The report predicts that by 2030, China will become the world’s largest importer of services, with a global share of 13.4%, ahead of the United States (7.7%) and Germany (5.8%).

“Global Trade Outlook” by the HSBC commissioned by the Oxford Economic Research Institute for analysis. For the first time, this report provides an in-depth analysis of the history and current situation of trade in trade in 24 major countries and regions. The main categories of services are covered: B2B services, tourism services, transport services, financial services, information and communication Technical services and construction contracting services.

It is worth mentioning that this report predicts that the trade policy of the major trade markets will remain stable, taking into account the possible changes in the future trade environment. According to the survey, overall development of China’s service trade is sound and the overall outlook is not affected by the potential external environment.

HSBC Bank (China) Co., Ltd. General Manager Liu Yanzhu global trade and financing business forecast, the next 15 years, China’s B2B service exports growth will be the most rapid, financial services and transport services export growth will follow; , China’s imports of overseas tourism services, financial services and information and communication technology services will grow faster. “

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