China's service trade registered rapid growth in the first three quarters of 2024, with a steep increase in the trade of travel-related services, according to official data released on Tuesday.
The country's service trade totaled nearly 5.52 trillion yuan (around 776 billion U.S. dollars) from January to September, up 14.5 percent year on year, according to the Ministry of Commerce.
Services exports came in at 2.27 trillion yuan in the January-September period, rising 15.3 percent from the same period last year, and services imports went up 14 percent year on year to 3.24 trillion yuan, resulting in a deficit of some 971 billion yuan.
Trade in knowledge-intensive services rose 5.3 percent year on year to 2.13 trillion yuan, the data revealed.
Travel services saw a stellar performance in the first nine months, as imports and exports of travel services totaled 1.5 trillion yuan from January to September, a remarkable increase of 42.8 percent year on year.
China's service trade grows in Q1-3
