China services trade value up 17.2% in first 10 months

China's services trade value grew 17.2% year on year in the first 10 months of 2022, data from the Ministry of Commerce showed. This was reported by The Xinhua News Agency.

The total trade value stood at nearly ¥4.92 trln (about ¥690.77 bln), according to the data.

Services exports expanded 18.1% year on year to ¥2.36 trln, and services imports totaled over ¥2.56 trln, up 16.4% from a year ago.

Trade in knowledge-intensive services raked in nearly ¥2.05 trln, up 10.3% year on year, the data showed.

Knowledge-intensive services exports gained 14.3% to hit nearly ¥1.15 trln, led by categories such as intellectual property royalties and computing and information services.

Travel services continued to recover during this period, as trade in the sector advanced 9.1% from a year earlier to ¥689 bln.