Ministry of Commerce: China's total import and export of services from January to July is 42301.8 billion yuan, an increase of 14.7% year-on-year.

On September 6, the Ministry of Commerce data showed that from January to July 2024, China's service trade continued to grow rapidly, with the total service import and export volume reaching 42,301.8 billion yuan, a year-on-year increase of 14.7%. Among them, exports were 17,325 billion yuan, an increase of 12.4%; imports were 24,976.8 billion yuan, an increase of 16.4%; and the service trade deficit was 7,651.8 billion yuan. It presents the following characteristics: Knowledge-intensive service trade continued to grow. From January to July, the import and export of knowledge-intensive services reached 16,617.9 billion yuan, an increase of 4.7%. Among them, the export of knowledge-intensive services was 9,442.9 billion yuan, an increase of 3.8%, with faster growth in personal cultural and entertainment services and intellectual property use fees, with growth rates of 16.3% and 15.7% respectively; the import of knowledge-intensive services was 7,175 billion yuan, an increase of 5.9%, with faster growth in personal cultural and entertainment services, and other commercial services, with growth rates of 40.3% and 13.6% respectively. Travel services grew rapidly. From January to July, travel services continued to maintain high-speed growth, with the import and export of travel services reaching 11,406.8 billion yuan, an increase of 48.5%, making it the largest sector in service trade. This article is compiled from the official website of the Ministry of Commerce. Editor: Chen Wenfang, GMTEight.