China's service trade grows steadily

The service trade in China experienced steady growth during the first seven months of 2026, reaching a total value of approximately 4.45 trillion yuan (around $655.8 billion), an increase of 8.3% year-on-year. Service exports increased by 17.1%, exceeding 1.77 trillion yuan, while service imports grew by 3.2% to reach 2.67 trillion yuan. Travel and transportation services primarily contributed to this growth, with exports rising by 27.7% and 27.1% respectively, both playing a significant role in the overall growth of exports. The report also emphasized the importance of knowledge services related to communications, information technology, and finance, which accounted for about 44.1% of total service trade. The government continues its efforts to strengthen the service sector and achieve high-quality development goals by 2030.

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