CCTV News:According to the data released by the Ministry of Commerce on June 29th, in the first five months of this year, the total import and export value of China’s service trade increased by 3.7% year-on-year, and the growth rate of service exports was 27.6 percentage points higher than that of imports, which led to the decline of service trade deficit by 67.3%.
1— In May, the total import and export value of China’s service trade was 1,938.06 billion yuan, of which service exports increased by 20.1% and imports decreased by 7.5%.
In the month of May, China’s service import and export totaled 373.45 billion yuan, up 5.5% over the same period of last year, of which exports increased by 7.7%, imports increased by 3.7% and transportation services increased by 39.1%, which was the fastest growing area.
In the first five months, the proportion of China’s trade in knowledge-intensive services increased by 11%, among which the export of knowledge-intensive services increased by 14.4%, while the export of personal culture and entertainment services, telecommunications computer and information services and intellectual property royalties increased rapidly, with 32.6%, 22.6% and 14.7% respectively. Imports of knowledge-intensive services increased by 7.3%, with financial services and insurance services increasing by 20.7% and 13.2% respectively.
The import and export of travel services continue to decline due to the current strict measures taken by countries to restrict the cross-border movement of people. 1— In May, the import and export of China’s travel services decreased by 36.9%, of which exports decreased by 39.1% and imports decreased by 36.7%.
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