每周经济观察第15期：服务贸易政策有何新变化？-20250414

Service Trade Deficit - China's service trade deficit reached approximately $1646 billion in 2024, offsetting about 17% of the merchandise trade surplus[3] - Travel services accounted for the largest portion of the service trade deficit, with a deficit of $1817 billion in 2023, reflecting a year-on-year increase of 68%[3] - The United States is the largest source of China's service trade deficit, contributing approximately $26.57 billion, which is about 15.6% of the total deficit[3] Policy Adjustments - The past year has seen three main adjustments in service trade policy: increasing domestic service supply, promoting inbound consumption, and implementing export restrictions on certain technologies[2] - A negative list for cross-border service trade was introduced in March 2024, marking a significant step towards institutional openness in sectors like finance, transportation, and culture[4] - The government has expanded visa-free entry policies, allowing citizens from 38 countries to enter China without a visa, with the stay duration extended from 15 to 30 days[5] Inbound Consumption Initiatives - The number of duty-free shops in major cities increased from 6 to 27, enhancing the supply of duty-free shopping options[31] - The "immediate refund" policy for outbound tax refunds was rolled out nationwide, allowing travelers to receive tax refunds at the point of purchase[31] - Inbound tourism saw a recovery, with 131.9 million foreign visitors in 2023, a 61% increase year-on-year, although recovery rates varied significantly by region[26] Export Restrictions - Export restrictions were implemented to protect key technologies, particularly in aerospace and critical mineral processing[35] - The number of American films imported into China is set to be reduced, with 33 American films expected to be imported in 2024, accounting for about 35% of total film imports[35]