In the first half of this year, China's service trade maintained a relatively rapid growth. The total import and export of services amounted to RMB2,891.09 billion (RMB, same below), a year-on-year increase of 21.6%. Among them, the service export was RMB1,405.95 billion, up 24.6%. The import reached RMB1,485.14 billion, up 18.9%. Service export increased by 5.7 percentage points more than import, driving the service trade deficit down by 34.3% to RMB79.19 billion. In June, China's import and export of services totaled RMB525.3 billion, a year-on-year increase of 19.6%. The main features are as follows:

Trade in knowledge-intensive services continued to grow steadily. In the first half of the year, the import and export of knowledge-intensive services was RMB1,214.49 billion, an increase of 9.8%. Among them, the export of knowledge-intensive services was RMB682.8 billion, an increase of 13.1%. The areas enjoying rapid export growth are telecommunications, computer and information services, and other commercial services, with an increase of 16.3% and 13.9% respectively. The import of knowledge-intensive services was RMB531.69 billion, up by 5.9%. The area with a rapid import growth was insurance service, up 82.1%.

The import and export of travel services continued to recover. In the first half of the year, China's import and export of travel services amounted to RMB393.55 billion, an increase of 8.2%, of which, export decreased by 21.8% and import increased by 11.6%. Excluding travel services, China's import and export of services increased by 24% in the first half of the year, of which export increased by 26.2% and import by 21.5%. Compared with the same period in 2019, the import and export of services increased by 52.8%, of which export increased by 67.8% and import by 37.6%.

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