Friday, October 31, 2014   

China services trade leaps to new high
(02-12 19:08)

China's foreign trade in services in 2013 hit a new high of US$540 billion, up by 14.7 percent from the previous year, the Ministry of Commerce said.
Exports of services reached US$211 billion, up 10.6 percent from a year earlier. Imports of services hit US$329 billion, up 17.5 percent, according to a statement on the ministry website.
High value-added service exports saw steady growth, while exports of financial services soared 54.2 percent year on year. Traditional service exports, which used to account for a large part of total exports, declined compared with the previous year.
The data showed that imports of high value-added services sped up, with tourism imports surging 26.1 percent year on year to US$128.58 billion.
Deficits came from sectors including tourism, transport, royalties and insurance, while a significant surplus was realized in other sectors such as consulting, IT and construction.
MOC data showed that trade in services improved by 12.3 percent year on year to US$471 billion in 2012, becoming the world's third-largest trader of services.—Xinhua


   
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