2022-10-19T03:38:00+03:00 China 2023-11-15T04:54:19+02:00

Ukrainian news

Ukrainian news

China services trade value up 20.4 pct in first eight months

China services trade value up 20.4 pct in first eight months

China's services trade value grew 20.4% year on year in the first eight 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 ¥3.94 trln (about $554.13 bln), according to the data.

Services exports expanded 23.1% year on year to ¥1.91 trln, and services imports totaled ¥2.03 trln, up 17.9% from a year ago.

The growth of services trade exports outpaced import growth by 5.2 percentage points, resulting in a 29.5-percent drop in the services trade deficit to ¥121.08 bln from the same period last year.

Trade in knowledge-intensive services raked in ¥1.64 trln, up 11.4% year on year, the data showed.

Knowledge-intensive services exports gained 15.7% to hit ¥929.79 bln, led by categories such as intellectual property royalties and computing and information services.

Travel services recovered during this period, as trade in the sector advanced 7.1% from last year to ¥542.66 bln.