上半年服务贸易出口增长15%，旅游服务增速最快

Core Insights - The service trade is a crucial component of international trade, and accelerating its development is essential for expanding high-level openness and fostering new momentum for foreign trade [1] Group 1: Service Trade Performance - In the first half of the year, China's total service trade reached 38,872.6 billion yuan, a year-on-year increase of 8%, with exports at 16,883 billion yuan (up 15.0%) and imports at 21,989.6 billion yuan (up 3.2%) [1] - Knowledge-intensive service trade grew by 6%, with telecommunications, computer, and information services reaching 5,293.8 billion yuan, marking a 12.7% increase [1][4] - The service trade deficit significantly narrowed year-on-year, indicating improved competitiveness in service trade, particularly in digital, tourism, and financial services [1][2] Group 2: Travel Services - Travel services emerged as the largest sector in service trade, with imports and exports totaling 10,802.9 billion yuan, a growth of 12.3%, where exports surged by 68.7% and imports increased by 5.5% [1][2] - The rapid growth in tourism services is attributed to the recovery of domestic and international personnel movement, gradual reopening of outbound tourism, and a notable rebound in inbound tourism [2] Group 3: Knowledge-Intensive Services - Knowledge-intensive service imports and exports totaled 15,025.4 billion yuan, accounting for 38.7% of total service trade, with telecommunications, computer, and information services leading the growth at 12.7% [4] - This sector is characterized by high added value and significant technological content, playing a key role in optimizing the service trade structure [4] Group 4: Policy and Future Outlook - Various measures have been introduced to enhance the service trade environment, including optimizing tax refund policies for inbound tourists and expanding the coverage of visa-free policies [2][3] - The Ministry of Commerce anticipates that by 2024, China's service trade will exceed 1 trillion USD, ranking second globally, with a projected 38% growth in knowledge-intensive service trade compared to 2020 [5] - The outlook for the second half of the year indicates both opportunities and challenges, with potential growth in digital trade and cross-border e-commerce, but also risks from global economic slowdown and rising protectionism [6]