China's service trade surged 16% year-on-year to 3.02 trillion yuan in Jan-May 2024, with travel services up 48.4%.
China's service trade surged 16% year-on-year in Jan-May 2024, reaching 3.02 trillion yuan ($415.6bn), driven by a 48.4% increase in travel services, which contributed 819.72 billion yuan. The knowledge-intensive service trade also expanded by 6% to 1.19 trillion yuan, driven by higher fees for intellectual property rights and personal cultural & entertainment services. China's service trade deficit remained at about 580bn yuan.
July 04, 2024
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