Director of Department of Trade in Service and Commercial Services of Ministry of Commerce introduced China’s trade volume in serive in betweeen January to Ocotober on December 5th . Trade volume in service reached￥4.43927 trillion, a year-on-year increase of 2.6%. Service export stood at ￥1.57723 trillion, a year-on-year growth of 9.0%, import reached ￥2.862 trillion, a year-on-year decrease of 0.7%.
Main Features of China’s Trade in Service:
Deficit in service trade continued to narrow. Production inidex of the service industy had a year-on-year growth of 7% in between January and October, laying a good foundation for the fast growth of service export which took up 35.5% of the service trade. Service export had a year-on-year increase of 2.1 percentage point. The growth rate of service export was 9.7 percentage point higher than that of import, resutlitng to a 10.4 percentaage point dropiin servie trade deficit at ￥1.28481 trillion, a year-on-year decrease of ￥149.49 billion.
Quality of service trade improved. The trade volume of knowledge intensed service reached ￥1.5135.6 in thisperiod, a year-on-year growth of 10.7% , and 8.1 percentage point higher than that of the whole service industry. It toook up 34.1% of the total service trade volum, a year-on-year increase of 2.5 percentatge point. Export of knowledge intensed service reached ￥795.98 billion, a year-on-year growth of 13%. Import of the same serivce reached ￥717.58 billion, a year-on-year increase of 8.2%. When it comes to specific services, individual cultural and entertainment service, telecommunication, computer and information service, and financial service continued theri fast growth, enjoying a trade growth of 27.6%, 19.1%, and 14.8% respecitvley.