Core Insights - In August 2025, China's international balance of payments for goods and services trade reached a total import and export scale of 42,818 billion yuan, marking a year-on-year growth of 2% [1] Trade Data Summary - Goods trade exports amounted to 21,395 billion yuan, while imports were 15,202 billion yuan, resulting in a surplus of 6,193 billion yuan [1] - Service trade exports totaled 2,546 billion yuan, with imports at 3,675 billion yuan, leading to a deficit of 1,129 billion yuan [1] Service Trade Breakdown - Major components of service trade included: - Travel services with an import and export scale of 1,887 billion yuan - Transportation services with an import and export scale of 1,745 billion yuan - Other commercial services with an import and export scale of 996 billion yuan - Telecommunications, computer, and information services with an import and export scale of 583 billion yuan [1] Dollar Value Summary - In USD terms, exports for August 2025 were valued at 3,357 million USD, imports at 2,647 million USD, resulting in a surplus of 710 million USD [1]

Core Insights - In August 2025, China's international balance of payments for goods and services trade reached a total import and export scale of 42,818 billion yuan, marking a year-on-year increase of 2% [1] - The goods trade surplus was 6,193 billion yuan, with exports at 21,395 billion yuan and imports at 15,202 billion yuan [1] - The services trade recorded a deficit of 1,129 billion yuan, with exports at 2,546 billion yuan and imports at 3,675 billion yuan [1] Goods Trade Summary - Total goods trade exports amounted to 21,395 billion yuan (3,000 billion USD) and imports were 15,202 billion yuan (2,132 billion USD) [2] - The goods trade surplus was 6,193 billion yuan (868 billion USD) [2] Services Trade Summary - Total services trade exports were 2,546 billion yuan (357 billion USD) and imports were 3,675 billion yuan (515 billion USD) [2] - The services trade deficit was 1,129 billion yuan (158 billion USD) [2] - Major components of services trade included: - Travel services: exports of 323 billion yuan (45 billion USD) and imports of 1,564 billion yuan (219 billion USD), resulting in a deficit of 1,241 billion yuan (174 billion USD) [4] - Transportation services: exports of 729 billion yuan (102 billion USD) and imports of 1,017 billion yuan (143 billion USD), leading to a deficit of 288 billion yuan (40 billion USD) [4] - Other commercial services: exports of 632 billion yuan (89 billion USD) and imports of 365 billion yuan (51 billion USD), resulting in a surplus of 267 billion yuan (37 billion USD) [4]

Core Viewpoint - The Chinese government, through nine departments, has released a set of 13 policy measures aimed at promoting service exports, which is seen as a crucial step in expanding high-level foreign trade and fostering new growth drivers in foreign trade [2][3]. Group 1: Financial Support and Investment - Utilize existing central and local funding channels to actively support service exports, particularly in new service models such as digital services, high-end design, and environmental consulting [3][10]. - Enhance the role of the Service Trade Innovation Development Fund to increase investment in service trade and digital trade, encouraging more social capital to enter these sectors [10]. - Optimize the zero tax rate declaration process for service exports by promoting electronic information to replace paper documentation, thereby improving efficiency [11]. Group 2: Insurance and Risk Management - Increase support from export credit insurance companies for service exports, expanding coverage and improving claims service quality [4][12]. - Improve the precision of export credit insurance policies by enhancing information sharing with insurance institutions and providing better financial services to small and micro enterprises [5][13]. Group 3: Regulatory and Operational Improvements - Implement supportive measures for customs supervision in comprehensive bonded zones, simplifying approval processes for imported goods needed for research and testing [6][14]. - Facilitate cross-border personnel movement and inbound consumption by optimizing visa policies for foreign investment enterprises and high-level talent [7][15]. - Enhance cross-border fund flow management by supporting service enterprises in joining multinational corporate cash pool pilot programs [8][16]. Group 4: Knowledge and Data Management - Encourage the transformation and transaction of intellectual property by improving valuation and transaction systems, and promoting collaboration with third-party assessment institutions [9][18]. - Promote and regulate cross-border data flow by establishing important data directories and guidelines, while supporting enterprises in using networks for international trade [19][20]. Group 5: Market Expansion Support - Support enterprises in exploring international markets by providing legal support and enhancing participation in domestic and international exhibitions [21][22].

Core Insights - China is committed to expanding high-level opening-up and enhancing service trade quality through innovative measures and international cooperation [1][4][5] Summary by Sections Basic Connotation and Development Trends - Service trade is characterized by the exchange of services across borders, playing a crucial role in global trade and economic cooperation [2] - The global service trade is projected to reach $8.69 trillion in 2024, with a year-on-year growth of 9% [2] - Digital services trade is expected to grow to $4.64 trillion in 2024, increasing by 8.3% [2] - Institutional openness is driving service trade by reducing transaction costs through regional economic cooperation [2] Current Status of China's Service Trade - China's service trade imports and exports reached 45,781.6 billion yuan in the first seven months of this year, growing by 8.2% [3] - Knowledge-intensive service trade is expanding, with its share nearing 40%, indicating a competitive edge in digital economy and information services [3] - The China International Fair for Trade in Services (CIFTIS) has become a significant platform for international cooperation, attracting participation from over 70 countries and nearly 2,000 enterprises [3] Real Needs and Imperative Choices - Service trade is essential for building a strong trade nation, requiring innovation in systems, models, and industries to overcome existing challenges [4] - There is a notable trade deficit in traditional service sectors, highlighting the need for improvement in knowledge-intensive services [4] Innovation and Development Strategies - Expanding high-quality service imports and promoting high-end service exports are crucial for enhancing international competitiveness [6] - New technologies like blockchain and AI are transforming service trade, improving transparency and efficiency in cross-border transactions [6][8] - The integration of service trade with high-end manufacturing is encouraged to enhance product value and competitiveness [8] Green Development and Institutional Openness - Developing green service trade is a priority, aligning with global sustainability goals and enhancing China's international responsibility [6][9] - Strengthening rule alignment and regulatory coordination is vital for advancing service trade, with a focus on high-standard international economic rules [9] Pathways and Future Prospects - A comprehensive approach combining strategic design and tactical measures is necessary to boost service trade scale, structure, and efficiency [7] - Fostering new growth areas in human resources, education services, and service outsourcing is essential for enhancing international competitiveness [7][8]

Core Points - China is committed to expanding high-level opening-up and enhancing service trade quality through innovation and international cooperation [1][4][5] Summary by Sections Basic Connotation and Development Trends - Service trade is characterized by the exchange of services across borders, playing a crucial role in global trade structure upgrades [2] - The global service trade is projected to reach $8.69 trillion in 2024, with a year-on-year growth of 9% [2] - Digital services trade is expected to grow to $4.64 trillion in 2024, increasing by 8.3% [2] - Institutional openness is driving service trade by reducing transaction costs through deeper regional economic cooperation [2] Current Situation and Future Needs - China's service trade has seen a total import and export value of 45,781.6 billion yuan in the first seven months of this year, marking an 8.2% increase [3] - Knowledge-intensive service trade is growing steadily, with its share nearing 40% of total service trade [3] - The China International Fair for Trade in Services (CIFTIS) has become a significant platform for international cooperation, with participation from over 70 countries and nearly 2,000 enterprises [3] - Continuous improvements in openness through free trade zones and other initiatives are providing institutional support for high-quality service trade development [3] Innovation and Development Pathways - There is a pressing need to innovate and enhance service trade to address existing trade deficits, particularly in traditional service sectors [4][6] - The integration of digital technologies like blockchain and AI is transforming service trade, enhancing efficiency and security [6][8] - The development of green service trade is essential for sustainable growth, aligning with global environmental goals [6][9] - A strategic approach is required to create new growth points in service trade, focusing on sectors like education, finance, and consulting [7][8] Conclusion - The advancement of service trade is vital for establishing a robust open economy and supporting China's modernization efforts [9]

Core Viewpoint - China's service exports have experienced rapid growth, particularly in high-tech and high-value-added services, with total service exports projected to increase from $219.1 billion in 2014 to $445.9 billion in 2024, reflecting an average annual growth rate of 7.3% [1][6] Summary by Sections Service Export Growth - The total service export amount in China has risen significantly, with a notable increase in the competitiveness of high-tech and high-value-added service exports [1][6] - Despite this growth, the overall outward orientation of China's service industry remains low, indicating a need for improved international market development capabilities among service enterprises [1] Policy Measures - The Ministry of Commerce, along with other departments, has introduced 13 practical measures to promote service exports, focusing on fiscal, financial, facilitation, and international market development aspects [3][4] - Specific measures include optimizing the zero tax rate declaration process for service exports, enhancing export credit insurance support, and improving cross-border capital flow management [3][4] Implementation and Future Outlook - The Ministry of Commerce aims to implement these policy measures effectively to enhance the international competitiveness of China's service export enterprises [6] - Recent data indicates steady growth in service trade, with a total service trade volume of 45,781.6 billion yuan in the first seven months of 2025, marking an 8.2% year-on-year increase [6] - Knowledge-intensive service trade has also shown growth, with a total of 17,756 billion yuan in imports and exports, reflecting a 6.8% increase [6][7] Structural Upgrades - China's service trade is undergoing structural upgrades, with increasing proportions of knowledge-intensive and digital services, particularly in information services, engineering technology, and professional consulting [7] - The rise of new business models driven by digital transformation, such as artificial intelligence and cross-border e-commerce, is expected to innovate service trade models and expand international cooperation [7]

Report Core View - The report focuses on the new energy installation progress in the power industry and provides an overview of mid - level events, industry status, and key data in various industries [1] Industry Overview Production Industry - On September 24, 2025, President Xi Jinping announced China's new national independent contributions at the United Nations Climate Change Summit. By 2035, China aims to reduce the net greenhouse gas emissions in the entire economy by 7% - 10% from the peak, increase the share of non - fossil energy consumption in the total energy consumption to over 30%, increase the total installed capacity of wind and solar power to more than 6 times that of 2020, striving for 36 billion kilowatts, reach a forest stock volume of over 240 billion cubic meters, make new energy vehicles the mainstream of new vehicle sales, cover major high - emission industries in the national carbon emissions trading market, and basically build a climate - resilient society [1] Service Industry - Nine departments including the Ministry of Commerce issued 13 policy measures to promote service exports, aiming to boost the high - quality development of service trade. These measures include leveraging existing funds, enhancing the guiding fund's role, optimizing tax - free procedures, and increasing export credit insurance support. Support is also provided for international data service businesses in areas like the Lin - gang New Area of the Shanghai Free Trade Pilot Zone and the Hainan Free Trade Port, and for establishing international data and cloud - computing centers in relevant areas [2] Upstream - In infrastructure, cement prices have increased; in agriculture, the prices of eggs and palm oil have declined [2] Midstream - The polyester operating rate in the chemical industry has slightly decreased [3] Downstream - In the real estate sector, the sales of commercial housing in first - and second - tier cities have declined; in the service sector, the number of domestic flights has remained stable [3] Key Data Agricultural Products - On September 24, the spot price of corn was 2,288.6 yuan/ton with a year - on - year decrease of 0.12%, the spot price of eggs was 7.8 yuan/kg with a - 3.13% change, the spot price of palm oil was 9,040 yuan/ton with a - 4.50% change, the spot price of cotton was 15,090.8 yuan/ton with a - 1.50% change, the average wholesale price of pork was 19.6 yuan/kg with a - 0.81% change [37] Metals - On September 24, the spot price of copper was 80,060 yuan/ton with a - 0.67% change, the spot price of zinc was 21,824 yuan/ton with a - 1.45% change, the spot price of aluminum was 20,693.3 yuan/ton with a - 1.02% change, the spot price of nickel was 122,633.3 yuan/ton with a - 0.31% change, the spot price of aluminum was 17,031.3 yuan/ton with a - 0.18% change, the spot price of螺纹钢 was 3,195 yuan/ton with a 1.49% change, the spot price of iron ore was 813.7 yuan/ton with a 0.76% change, the spot price of wire rod was 3,375 yuan/ton with a 0.75% change, the spot price of glass was 14.3 yuan/square meter with no change [37] Others - On September 24, the spot price of natural rubber was 14,983.3 yuan/ton with a - 0.72% change, the China Plastic City price index was 790.7 with a - 0.33% change, the spot price of WTI crude oil was 63.4 dollars/barrel with a 0.17% change, the spot price of Brent crude oil was 67 dollars/barrel with a - 0.70% change, the spot price of liquefied natural gas was 3,802 yuan/ton with a - 1.81% change, the coal price was 788 yuan/ton with a 1.03% change, the spot price of PTA was 4,572.9 yuan/ton with a - 1.64% change, the spot price of polyethylene was 7,350 yuan/ton with a - 0.63% change, the spot price of urea was 1,655 yuan/ton with a - 1.05% change, the spot price of soda ash was 1,262.5 yuan/ton with no change, the national cement price index was 134.1 (compared to 114.3) with a 2.68% change, the real - estate building materials comprehensive index had a 0.24% change, and the national concrete price index was 91.7 with a - 0.08% change [37]

● 本报记者 王舒嫄 聂平香认为，上述政策措施的出台将为传统服务出口领域注入新动能。"针对传统的旅行服务出口，上 述政策措施明确提出鼓励方向与具体要求。围绕观光旅游、参赛观赛、旅居养老等入境场景，重点推进 入境消费便利化提升，进一步强化旅行服务出口的国际竞争力。"聂平香说。此外，上述政策措施着力 培育与数字经济、绿色经济紧密关联的知识密集型服务出口，以及与生产服务紧密相连的服务领域的出 口，如高端设计、研发、认可认证等，将对知识密集型服务出口形成显著促进作用。 商务部9月24日消息，商务部等九部门近日印发《关于促进服务出口的若干政策措施》的通知。通知提 出13项具体措施，包括增强服务贸易创新发展引导基金撬动作用、加大出口信用保险支持力度等。 通知提出，增强服务贸易创新发展引导基金撬动作用。支持服务贸易创新发展引导基金加大对服务贸易 的投资，加强与地方基金联动，带动更多社会资本投资服务贸易和数字贸易领域。修订《服务出口重点 领域指导目录》《服务外包产业重点发展领域指导目录》，对基金重点投向加强业务指导。 加大出口信用保险支持力度。鼓励中国出口信用保险公司和其他保险机构加大对服务出口的支持力度， （下转A02版） ...

Core Insights - Hainan is set to officially close its borders on December 18, marking a significant step towards establishing a new type of offshore international trade center, which aims to shift Chinese enterprises from being mere suppliers to service providers in global trade [3][4][5] Group 1: New Offshore Trade Model - The new offshore trade model allows Chinese companies to engage in global trade without passing through Chinese ports, enhancing their role in the global supply chain [3] - This model emphasizes remote control and management of trade processes, enabling companies to coordinate procurement, processing, and sales across multiple countries [3] Group 2: Importance of Hainan Free Trade Port - Hainan's free trade port will cover an area of 35,400 square kilometers, significantly larger than existing free trade zones in China, providing ample space for talent and enterprises [5] - The free trade port will offer greater openness compared to traditional free trade zones, with most goods exempt from tariffs and simplified trade regulations [7][20] Group 3: Competitive Advantages - Hainan's free trade port will implement a zero-tariff policy for over 70% of goods, compared to Shanghai's limited tariff exemptions, making it a more attractive location for offshore trade [7][19] - The port will also feature a simplified customs process, allowing goods to enter before customs declaration, enhancing operational efficiency [7] Group 4: Service Trade Growth - The global trade landscape has shifted, with intermediate goods now accounting for over 70% of trade, and service trade comprising 30% of total trade volume, indicating a need for high-quality service support in offshore trade [8][9] - Hainan's service trade is projected to grow over 20% in 2024, with significant increases in sectors like transportation, tourism, and digital trade [9] Group 5: Offshore RMB Settlement Center - Hainan aims to establish an offshore RMB settlement center, complementing Hong Kong's existing role, to facilitate domestic and international capital flow [11][12] - This center will enhance the internationalization of the RMB and attract foreign investment, contributing to Hainan's financial ecosystem [12][15] Group 6: Challenges and Opportunities - Despite its potential, Hainan faces challenges such as a lack of financial market openness and service infrastructure, which could hinder its ability to attract high-quality resources [14] - However, Hainan's strategic location and the government's support for establishing a financial settlement center present significant opportunities for growth [14][15] Group 7: Future Trade Rules - The evolving global trade rules emphasize "zero tariffs," "zero barriers," and "zero subsidies," which align with Hainan's goals for trade liberalization [17][18] - Hainan's free trade port is positioned to experiment with these principles, potentially serving as a model for broader national implementation [20][21]

Core Viewpoint - The Ministry of Commerce and nine other departments have issued a notice on promoting service exports, emphasizing the importance of developing service trade as a means to expand high-level opening-up and cultivate new momentum for foreign trade [3]. Group 1: Policy Measures - The notice outlines 13 specific measures to enhance service exports and promote high-quality development in service trade [3]. - It encourages the use of existing central and local funding channels to support new service export models, including digital services, high-end design, and green services [4]. - The notice highlights the need to enhance the role of the Service Trade Innovation Development Guidance Fund to attract more social capital into service and digital trade sectors [5]. Group 2: Export Support Mechanisms - The notice proposes optimizing the zero tax rate declaration process for service exports to improve efficiency [6]. - It calls for increased support from export credit insurance companies to provide comprehensive risk protection for service exports [8]. - The document emphasizes the need for precise export credit insurance policies to better serve small and medium-sized enterprises [9]. Group 3: Cross-Border Facilitation - The notice aims to facilitate cross-border personnel movement and improve visa policies for foreign investors and high-level talent [10]. - It encourages the optimization of cross-border capital flow management and the enhancement of cross-border payment convenience for service trade [10]. - The document supports the establishment of international data centers and cloud computing centers in designated areas to provide data processing services [12][13]. Group 4: Intellectual Property and Data Management - The notice promotes the transformation and transaction of intellectual property, including the establishment of a value assessment and transaction system [11]. - It outlines measures for the cross-border flow of important data, including the development of an important data directory and operational guidelines [11]. - The document supports the exploration of international data service business development in specific regions [13].