Core Insights - The State Administration of Foreign Exchange reported that in April 2023, China's goods and services trade reached 43,706 billion yuan, a year-on-year increase of 6% [1] - The trade surplus in goods was 4,464 billion yuan, while the services trade recorded a deficit of 1,138 billion yuan [1] - The service trade sector is increasingly becoming a key driver for China's foreign trade, with significant growth in knowledge-intensive and travel services [1] Group 1: Service Trade Performance - In 2024, the total service trade import and export volume is expected to exceed 7.5 trillion yuan, surpassing 1 trillion USD, maintaining China's position as the second-largest globally [1] - Travel services, as a traditional strength, are experiencing rapid growth due to policy relaxation and rising consumer demand, becoming the largest sector in service trade [1] - Emerging service sectors such as digital culture, online education, and cross-border healthcare are gaining traction, characterized by high added value and strong penetration [1] Group 2: Challenges in Service Trade - Service trade is primarily concentrated in eastern regions like Beijing, Shanghai, and Guangdong, while central and western provinces face challenges due to weak industrial foundations and talent shortages [2] - There is a lack of internationally influential domestic enterprises and service brands in high-end knowledge-intensive services such as legal, financial, and consulting services, indicating a need for structural optimization [2] Group 3: Strategic Recommendations - To enhance service trade quality, it is essential to deepen institutional openness and create a higher-level open environment, including improving the negative list system for cross-border service trade [2] - Encouraging manufacturing enterprises to transition to service-oriented models and developing integrated service export modes can expand the service value chain [3] - Strengthening digital capabilities and building platform-based service capacities through advanced technologies like 5G and AI will diversify and enhance service delivery methods [3] Group 4: Talent and Standards Development - Establishing a training system for composite talents in service trade and promoting cooperation among universities, industry associations, and enterprises is crucial for developing specialized courses [4] - Building a cross-border service talent certification system and enhancing the service trade standard system will improve China's influence in global service governance [4]