In the first quarter of 2023, China’s travel services have shown great improvement, with import and export of 3.37 billion yuan, an increase of 56.6 percent compared to the first quarter of 2022. In this, the growth of exports was 38.4 percent from the same period last year, while the growth of imports was 58 percent.
China’s trade in services continued to grow in the first quarter of this year, according to data released by the Chinese Ministry of Commerce on May 9. The total import and export of services was 1.584 billion yuan, an increase of 8.7 percent over the same time last year. Its main feature is reported to be an increase in the proportion of knowledge-intensive service trade. The import and export of knowledge-intensive services amounted to 6.94 billion yuan in the first quarter, up 12.8 percent from the first three months of 2022. The fastest growing sector is insurance services, with a growth of 276.4 per cent.
(Credits- China Media Group, Beijing)
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