China's services trade sustained a sound growth momentum in the first quarter
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China's services trade sustained a sound growth momentum in the first quarter

Views: 0     Author: Site Editor     Publish Time: 2023-06-01      Origin: Site

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China's services trade sustained a sound growth momentum in the first quarter, with travel services seeing visible recovery, official data showed Tuesday.

The country's services trade totaled 1.58 trillion yuan ($228.14 billion) in the first three months, up 8.7 percent year-on-year, data from the Ministry of Commerce showed.

Services imports stood at over 903.5 billion yuan, rising 21.6 percent from a year ago, while exports shrank 4.7 percent year-on-year to 680.51 billion yuan in the reporting period, resulting in a deficit of 222.99 billion yuan.

Travel services reported a notable recovery in Q1, as trade in the sector surged 56.6 percent from a year earlier to about 337.63 billion yuan.

Trade in knowledge-intensive services raked in nearly 694.7 billion yuan in Q1, up 12.8 percent year-on-year, the data showed.


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