Since the start of this year, China’s trade in services has maintained a positive momentum, with its total volume exceeding 5 trillion yuan in the first eight months. Travel services, transport services and knowledge-intensive services have become key engines driving service exports. Data released by the Ministry of Commerce (MOC) on October 13 shows that China’s total imports and exports of services stood at 5.07016 trillion yuan from January to August, representing a year-on-year increase of 7.9%. Of this figure, service exports reached 1.99961 trillion yuan, up 14.8% year-on-year; service imports hit 3.07055 trillion yuan, rising 3.8% year-on-year.

Service exports delivered outstanding results. Exports of travel and transport services contributed nearly 50% to the overall growth in service exports.

An official from the MOC’s Department of Trade in Services introduced that from January to August, travel service exports amounted to 275.17 billion yuan, growing 15.3% year-on-year, while transport service exports reached 420.26 billion yuan, surging 28.2% year-on-year. Travel and transport service exports contributed 14.1% and 35.8% respectively to the total growth of service exports.

Thanks to continuous optimization of visa-free entry policies and improvement of the inbound tourism service system, the inbound tourism market remains vibrant. According to data from the Ministry of Culture and Tourism, China received 2.983 million inbound visitors during the 2026 National Day holiday. On a comparable daily basis, the figure rose by 19.0% and 6.5% compared with 2024 and 2025 respectively.

Furthermore, high value-added services are emerging as the mainstay of service exports, with exports of knowledge-intensive services accounting for more than half of total service exports.

MOC statistics show that imports and exports of knowledge-intensive services reached 2.2314 trillion yuan in January–August, up 6.6% year-on-year and accounting for 44% of total services trade. Exports of knowledge-intensive services were 1.07447 trillion yuan, an increase of 10.9% year-on-year and making up 53.7% of total service exports. Imports of knowledge-intensive services stood at 1.15693 trillion yuan, rising 2.8% year-on-year and representing 37.7% of total service imports.

Su Jian, Professor at the School of Economics and Director of the National Economic Research Center of Peking University, told reporters from the Shanghai Securities News that driven by innovation, rapid technological advances have accelerated the growth of knowledge-intensive service exports. The markedly higher growth rate of exports versus imports indirectly reflects faster industrial upgrading and stronger domestic supply capacity of high-end services in China, helping narrow the services trade deficit.

Notably, digital cultural products and services including online literature, online games, films, animations and short videos have emerged as new bright spots in service exports. MOC data indicates that exports of personal, cultural and recreational services posted the fastest growth of 66% in the January–August period.

Since the beginning of the year, policies have kept supporting the development of trade in services. In March, the MOC and eight other authorities issued the Policy Measures to Boost Travel Service Exports and Expand Inbound Consumption, putting forward 16 measures covering seven areas such as expanding inbound tourism consumption and stimulating consumption at inbound events. In May, the MOC together with five other departments released the Notice on Further Optimizing Tax Refund Policies for Departing Visitors to Expand Inbound Consumption, focusing on raising coverage of tax-refund shops and optimizing instant tax refund services.

The MOC has repeatedly stated that it will vigorously develop foreign trade, support exports of digital services such as telemedicine, online education and cloud office, and foster new growth drivers for digital trade.

Su Jian believes trade in services will stay on an upward track with robust momentum for service export growth. Supported by digital technologies and the global expansion of domestic cultural IP, cultural service exports are expected to maintain rapid growth, and digital trade will continue to serve as a growth engine for trade in services.

Source: Shanghai Securities News