China's trade in services expanded 6 percent year on year in the first five months of 2026, with exports of travel and knowledge-intensive services reporting particularly strong growth, official data showed on Wednesday (July 1).
The total value of service imports and exports reached nearly RMB 3.1 trillion (about US$455.4 billion) from January to May this year, according to data released by the Ministry of Commerce.
A breakdown of the data showed that service exports rose 15.9 percent to RMB 1.23 trillion, while imports edged up 0.4 percent to RMB 1.87 trillion. The service trade deficit narrowed by RMB 160.72 billion from one year earlier to RMB 638.56 billion.
During the period, knowledge-intensive service trade increased 5.4 percent year on year to RMB 1.37 trillion, accounting for 44.2 percent of all service trade.
Exports of knowledge-intensive services jumped 12.2 percent to RMB 667.75 billion, with charges for the use of intellectual property and personal cultural and entertainment services surging 64.9 percent and 50.1 percent, respectively.
Travel service exports grew at the fastest rate among the top five service export sectors, rising 31.3 percent to RMB 188.5 billion. Imports of transport services totaled RMB 402.52 billion, up 26.7 percent, marking the fastest growth rate among the top five service import categories.
(Source: Xinhua)
Related News:
HK ranks 2nd globally in ultra-wealthy population as UHNW numbers surge 26%: Altrata report
Comment