In 2024, China’s trade in services registered fast growth and reached a new record high. The total imports and exports of services reached 7.5238 trillion yuan, up 14.4% year-on-year. In breakdown, exports were 3.17556 trillion yuan, up 18.2%; imports were 4.34824 trillion yuan, up 11.8%. There was a deficit of 1.17268 trillion yuan in trade in services, 31.43 billion yuan less than that of last year. The main features were as follows:

Knowledge-intensive service trade continued to grow. In 2024, the imports and exports of knowledge-intensive services reached 2.89652 trillion yuan, up 6.5%. In breakdown, the exports of knowledge-intensive services were 1.65732 trillion yuan, up 7.4%. The exports of personal culture and entertainment services and telecommunications, computer and information services registered fast growth, up 39.3% and 12.2% respectively. The imports of knowledge-intensive services were 1.2392 trillion yuan, up 5.4%. The imports of personal culture and entertainment services and charges for the use of intellectual property registered fast growth, up 29.5% and 8.7% respectively. The surplus of knowledge-intensive services trade was 418.12 billion yuan, 50.45 billion yuan more than that of last year.

Travel services saw the fastest growth. In 2024, travel services maintained rapid growth. The imports and exports of travel services reached 2.05115 trillion yuan, up 38.1% year on year, the largest service trade sector. In breakdown, exports grew by 156.8%, and imports increased by 29.3%.