China’s total service import-export volume to exceed 58 trillion yuan by November 2023 – Dainik Savera Times

According to data released by the Chinese Ministry of Commerce on January 4, China’s total services import and export volume from January to November last year was 58 trillion 90 billion 200 million yuan, an increase of 9 percent from the same period in 2022.

According to the data, China’s services trade exports from January to November were 24 trillion 7 billion 420 million yuan, a decrease of 6.8 percent compared with the same period in 2022, while imports were 34 trillion 82 billion 780 million yuan, a decline of 6.8 percent compared with the same period in 2022. There was an increase of 23.5 percent compared to the same period in 2022.

The proportion of Chinese knowledge-intensive service trade increased. From January to November last year, the import and export of knowledge-intensive services reached 24.35 billion 150 million yuan, an increase of 8.3 percent compared with January to November 2022. In which the export of knowledge-intensive services was 13.89 billion 500 million yuan, an increase of 10 percent from the same period of the year 2022, and the import was 10.45 billion 650 million yuan, an increase of 10 percent from January to November of the year 2022. There was an increase of 6.1 percent.

Apart from this, Chinese travel services are resuming. From January to November, the import and export of travel services reached 13.14 billion 880 million yuan, an increase of 73.5 percent compared with the same period in 2022. In the service trade sector, travel services continue to have the fastest growth. Exports of travel services increased by 56 percent from the same period in 2022, and imports increased by 74.9 percent.

(Courtesy-China Media Group, Beijing)