Core Insights - In June 2025, China's international balance of payments for goods and services trade reached 42,214 billion yuan, marking a year-on-year growth of 6% [1] - The goods trade surplus was 6,073 billion yuan, with exports at 21,185 billion yuan and imports at 15,112 billion yuan [1][3] - The services trade recorded a deficit of 1,043 billion yuan, with exports at 2,437 billion yuan and imports at 3,480 billion yuan [1][3] Goods Trade - Goods trade exports totaled 21,185 billion yuan (3,292 billion USD), while imports were 15,112 billion yuan (2,591 billion USD) [1][2] - The goods trade surplus was 6,073 billion yuan (846 billion USD) [3][2] Services Trade - Services trade exports amounted to 2,437 billion yuan (340 billion USD), with imports at 3,480 billion yuan (485 billion USD) [1][2] - The services trade deficit was 1,043 billion yuan (145 billion USD) [3][2] Major Components of Services Trade - Transportation services had an import-export scale of 1,639 billion yuan, while travel services reached 1,603 billion yuan [1] - Other commercial services totaled 967 billion yuan, and telecommunications, computer, and information services accounted for 659 billion yuan [1]

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]

Core Insights - In the first half of 2025, China's service trade showed steady growth, with total service import and export amounting to 38,872.6 billion yuan, reflecting a year-on-year increase of 8.0% [1] Group 1: Travel Services - Travel service exports experienced the fastest growth, with imports and exports reaching 10,802.9 billion yuan, an increase of 12.3%, making it the largest sector in service trade [1] - Travel service exports surged by 68.7%, while imports grew by 5.5% [1] Group 2: Knowledge-Intensive Services - Knowledge-intensive service trade maintained growth, with imports and exports totaling 15,025.4 billion yuan, a growth of 6.0% [1] - Significant components of knowledge-intensive services include other business services and telecommunications, computer, and information services, with respective trade amounts of 6,391 billion yuan and 5,293.8 billion yuan, growing at rates of 3.1% and 12.7% [1] - Knowledge-intensive service exports reached 8,650.4 billion yuan, increasing by 7.8%, while imports amounted to 6,375 billion yuan, growing by 3.6% [1] - The surplus in knowledge-intensive services was 2,275.4 billion yuan, an increase of 409.2 billion yuan compared to the same period last year [1]

Group 1 - The core viewpoint of the article highlights the steady growth of China's service trade in the first half of the year, with a total import and export value of 38,872.6 billion yuan, representing a year-on-year increase of 8% [1] - Service exports reached 16,883 billion yuan, growing by 15.0%, while imports totaled 21,989.6 billion yuan, with a growth of 3.2% [1] - The service trade deficit was recorded at 5,106.6 billion yuan, which is a decrease of 1,522.1 billion yuan compared to the same period last year [1] Group 2 - Knowledge-intensive service trade continued to grow, with a total import and export value of 15,025.4 billion yuan, an increase of 6.0% [1] - Major contributors to knowledge-intensive services include other business services and telecommunications, with respective import and export values of 6,391 billion yuan and 5,293.8 billion yuan, growing at rates of 3.1% and 12.7% [1] - Knowledge-intensive service exports amounted to 8,650.4 billion yuan, increasing by 7.8%, while imports reached 6,375 billion yuan, growing by 3.6%, resulting in a surplus of 2,275.4 billion yuan, which is an increase of 409.2 billion yuan year-on-year [1] Group 3 - Travel services experienced the fastest growth, with total imports and exports reaching 10,802.9 billion yuan, marking a growth of 12.3% and making it the largest sector in service trade [1] - Travel service exports surged by 68.7%, while imports grew by 5.5% [1]

● 本报记者王舒嫄 在中国社会科学院财经战略研究院研究员魏翔看来，随着产业结构变化，特别是信息和科技业务在服务 业中的占比增加，服务贸易有望成为推动经济增长的新引擎。 从增速看，旅行服务出口增长最快。上半年，旅行服务保持快速增长，进出口达10802.9亿元，同比增 长12.3%，为服务贸易第一大领域。其中，出口同比增长68.7%，进口同比增长5.5%。 专家认为，今年以来，我国旅行服务增势强劲，得益于我国丰富的旅游资源、完善的基础设施以及日益 提升的旅游服务质量，越来越多的国外游客来中国旅游。 国家外汇管理局国际收支司司长贾宁日前表示，我国持续优化外籍来华人员服务，扩大签证便利化，外 籍来华旅行热度提升。受此支撑，近年来，我国服务贸易收入稳步扩大，支出平稳增长。 对于下阶段我国服务贸易发展，商务部研究院数据中心副研究员宋思源表示，为更好应对外部风险挑 战，我国服务贸易发展应以机制创新为先导，营造稳定可靠的贸易政策环境，汇聚利用各类有利于服务 贸易发展的要素资源，持续深化与其他贸易伙伴合作，固本兴新，提升质量，做大增量，更好地发挥出 稳外贸作用。 中国服务贸易协会副会长、国务院发展研究中心对外经济研究部研究员赵 ...

Core Insights - The core viewpoint of the article highlights the steady growth of China's service trade in the first half of the year, with a total import and export value of 38,872.6 billion yuan, reflecting an 8.0% year-on-year increase [1] Summary by Categories Overall Service Trade Performance - In the first half of the year, China's service exports reached 16,883 billion yuan, marking a 15.0% year-on-year increase, while imports totaled 21,989.6 billion yuan, up 3.2% [1] - The service trade deficit stood at 5,106.6 billion yuan, which is a reduction of 1,522.1 billion yuan compared to the same period last year [1] Knowledge-Intensive Service Trade - Knowledge-intensive service trade continued to grow, with total imports and exports amounting to 15,025.4 billion yuan, a 6.0% increase year-on-year [1] - Major components include other business services and telecommunications, computer, and information services, with respective trade values of 6,391 billion yuan and 5,293.8 billion yuan, growing at rates of 3.1% and 12.7% [1] - Knowledge-intensive service exports were 8,650.4 billion yuan, up 7.8%, while imports reached 6,375 billion yuan, increasing by 3.6%, resulting in a surplus of 2,275.4 billion yuan, which is an expansion of 409.2 billion yuan from the previous year [1] Travel Services - Travel services exhibited the fastest growth, with total imports and exports reaching 10,802.9 billion yuan, reflecting a year-on-year increase of 12.3%, making it the largest sector in service trade [1] - Travel service exports surged by 68.7%, while imports grew by 5.5% [1]

Core Insights - The core viewpoint of the article highlights the steady growth of China's service trade in the first half of the year, with a total import and export value of 38,872.6 billion yuan, reflecting an 8.0% year-on-year increase [1] Group 1: Service Trade Overview - In the first half of the year, China's service exports reached 16,883 billion yuan, marking a 15.0% year-on-year increase [1] - Service imports amounted to 21,989.6 billion yuan, showing a 3.2% year-on-year growth [1] - The service trade deficit was 5,106.6 billion yuan, which is a reduction of 1,522.1 billion yuan compared to the same period last year [1] Group 2: Knowledge-Intensive Service Trade - Knowledge-intensive service trade maintained growth, with total imports and exports of 15,025.4 billion yuan, up 6.0% year-on-year [1] - Major components include other business services and telecommunications, computer, and information services, with respective import and export values of 6,391 billion yuan and 5,293.8 billion yuan, growing at 3.1% and 12.7% [1] - Knowledge-intensive service exports were 8,650.4 billion yuan, increasing by 7.8%, while imports were 6,375 billion yuan, up 3.6%, resulting in a surplus of 2,275.4 billion yuan, which is an increase of 409.2 billion yuan year-on-year [1] Group 3: Travel Services - Travel services experienced the fastest growth, with total imports and exports reaching 10,802.9 billion yuan, reflecting a 12.3% year-on-year increase, making it the largest sector in service trade [1] - Travel service exports surged by 68.7% year-on-year, while imports grew by 5.5% [1]

Core Insights - In June, China's international balance of payments for goods and services trade reached a scale of 42,214 billion yuan, reflecting a year-on-year growth of 6% [1] Trade Data Summary - Goods trade exports amounted to 21,185 billion yuan, while imports were 15,112 billion yuan, resulting in a surplus of 6,073 billion yuan [1] - Service trade exports totaled 2,437 billion yuan, with imports at 3,480 billion yuan, leading to a deficit of 1,043 billion yuan [1] Service Trade Breakdown - Major components of service trade included: - Transportation services with an import-export scale of 1,639 billion yuan - Travel services with an import-export scale of 1,603 billion yuan - Other commercial services with an import-export scale of 967 billion yuan - Telecommunications, computer, and information services with an import-export scale of 659 billion yuan [1] Dollar Value Summary - In dollar terms, China's goods and services trade exports in June 2025 were valued at 3,292 million USD, imports at 2,591 million USD, resulting in a surplus of 701 million USD [1]

Core Viewpoint - The State Administration of Foreign Exchange of China reported the international balance of payments for goods and services trade in June 2025, indicating a growth in trade volume and a surplus in goods trade [1] Trade Data Summary - In June 2025, the total import and export scale of China's goods and services trade reached 42,214 billion yuan, reflecting a year-on-year increase of 6% [1] - Goods trade exports amounted to 21,185 billion yuan, while imports were 15,112 billion yuan, resulting in a surplus of 6,073 billion yuan [1] - Services trade saw exports of 2,437 billion yuan and imports of 3,480 billion yuan, leading to a deficit of 1,043 billion yuan [1] Service Trade Breakdown - The main components of services trade included: - Transportation services with an import and export scale of 1,639 billion yuan - Travel services with an import and export scale of 1,603 billion yuan - Other commercial services with an import and export scale of 967 billion yuan - Telecommunications, computer, and information services with an import and export scale of 659 billion yuan [1] Dollar Value Summary - In dollar terms, the goods and services trade exports in June 2025 were valued at 32.92 billion USD, while imports were valued at 25.91 billion USD, resulting in a surplus of 7.01 billion USD [1]

Core Insights - In May 2025, China's international balance of payments for goods and services trade reached a total import and export scale of 41,643 billion yuan, reflecting a year-on-year growth of 3% [1] Trade Data Summary - Goods trade exports amounted to 20,498 billion yuan, while imports were 15,315 billion yuan, resulting in a surplus of 5,183 billion yuan [1] - Service trade exports totaled 2,356 billion yuan, with imports at 3,474 billion yuan, leading to a deficit of 1,118 billion yuan [1] Service Trade Breakdown - Major components of service trade included: - Transportation services with an import and export scale of 1,714 billion yuan - Travel services with an import and export scale of 1,632 billion yuan - Other business services with an import and export scale of 1,036 billion yuan - Telecommunications, computer, and information services with an import and export scale of 592 billion yuan [1] Dollar Value Summary - In dollar terms, the total exports for goods and services were 3,176 million USD, while imports were 2,611 million USD, resulting in a surplus of 565 million USD [1]