From January to November 2021, China's service trade continued to maintain rapid growth. The total import and export of services was RMB4,676.78 billion (RMB, same below), up 14.7% year-on-year. Among them, the service export was RMB2,236.44 billion, with an increase of 31.5%; the import was RMB2,440.34 billion, up by 2.6%. The growth of service export was 28.9 percentage points higher than that of import, driving down the service trade deficit by 69.9% to RMB203.9 billion, a year-on-year decrease of RMB473.12 billion. Compared with the same period in 2019, the import and export of services decreased by 4%, with a two-year average decrease of 2%, of which export increased by 28.5%, with a two-year average increase of 13.4%, while imports fell by 22%, with a two-year average decrease of 11.7%. In November, China's total import and export of services was RMB478.58 billion, a year-on-year increase of 35.4%. The main features are as follows:

Trade in knowledge-intensive services grew steadily. From January to November, the import and export of knowledge-intensive services reached RMB2,042.83 billion, an increase of 13.5%. Among them, the export of knowledge-intensive services was RMB1,113.79 billion, an increase of 18.1%. The areas enjoying rapid export growth are personal culture and entertainment services, IPR royalties, and telecommunications, computer and information services, growing by 36.2%, 29.3% and 23.3% respectively. The import of knowledge-intensive services was RMB929.05 billion, up by 8.3%. Financial services enjoyed a relatively fast growth of 57%.

The import and export of travel service continued to decline. The impact of COVID-19 on the import and export of travel services continued. From January to November, the import and export of China's travel services were RMB700.52 billion, down by 25.3%, of which the export dropped by 37.5% and the import dropped by 23.7%. Excluding travel services, China's service import and export increased by 26.6% from January to November, of which exports increased by 36.1% and imports increased by 16.8%. Compared with the same period in 2019, the import and export of services increased by 29.3%, of which exports increased by 42.4% and imports increased by 16.5%.

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