From January to November 2023, China's trade in services continued to grow. The total import and export of services reached 5.8902 trillion yuan, up by 9% year-on-year. In breakdown, exports was 2.47742 trillion yuan, down 6.8 percent. Imports were 3.48278 trillion yuan, up 23.5 percent. There was a deficit of 1.07536 trillion yuan in trade in services. In November, the import and export of services reached 544.78 billion yuan, up 13.7 percent year on year. In particular, the export of services increased by 1.4 percent and the import of services by 24.4 percent. The main trends were as follows:

Knowledge-intensive service trade continued to grow. Imports and exports of knowledge-intensive services reached 2.43515 trillion yuan in first eleven months, up 8.3 percent year-on-year. In breakdown, the export of knowledge-intensive services was 1.3895 trillion yuan, up 10 percent, and the import of knowledge-intensive services was 1.04565 trillion yuan, up 6.1 percent.

Travel services saw the fastest growth. From January to November, the import and export of travel services reached 1.31488 trillion yuan, up 73.5 percent year on year, remaining the fastest-growing service trade sector. In breakdown, exports increased by 56 percent and imports increased by 74.9 percent.

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