China’s services trade saw strong growth in the first four months of the year, driven by a notable increase in travel services, according to official data.

China’s services trade totaled 2.43 trillion yuan (about 341.74 billion US dollars) in the first four months, an increase of 16.8 percent year on year, according to China’s Ministry of Commerce.

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On the strong growth in China’s exports and imports of services

Service exports reached 984.69 billion yuan in the January-April period. This sum represents an increase of 11 percent compared to the same period last year. Meanwhile, service imports increased 21.2 percent year on year, reaching approximately 1.45 trillion yuan, resulting in a deficit of 462.58 billion yuan.

Travel services performed outstandingly in the first four months of the year, becoming a key pillar of China’s services trade. Imports and exports of travel services totaled 660.03 billion yuan from January to April, a notable increase of 48.6 percent year on year.

Trade in knowledge-intensive services increased 6.4 percent year on year, reaching 963.72 billion yuan, the data revealed.


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