China's service imports and exports totaled 7.2 trillion yuan (about 1.03 trillion in U.S. dollars) from January to November this year, marking a 7.1 percent year-over-year increase, according to data released by the Department of Trade in Services of the Ministry of Commerce on Wednesday.
In the 11-month period, service exports totaled 3,198.01 billion yuan, growing 13.4 percent, while imports amounted to 4,004.36 billion, up 2.5 percent.
The services trade deficit narrowed to 806.35 billion yuan, a reduction of 279.63 billion from the same period last year.
The data shows continued growth in knowledge-intensive services, registering 2,730.57 billion yuan in total import and export, an increase of 5.6 percent from the same period last year.
Exports of knowledge-intensive services rose 8.5 percent to 1,601.47 billion yuan, while imports grew 1.7 percent to 1,129.10 billion, yielding a surplus of 472.37 billion yuan, 106.74 billion larger than a year earlier.
Travel services also grew rapidly during the 11 months, totaling 1,976.27 billion yuan in import and export, up 8.2 percent. Exports soared 51.3 percent year on year, while imports edged up 1.9 percent.
China's service imports, exports up 7.1 pct in 11 months
China's non-manufacturing sector saw its purchasing managers' index (PMI) return to expansionary territory in December, reflecting improved optimism among service providers and construction firms, official data showed Wednesday.
Non-manufacturing PMI came in at 50.2 in December, up 0.7 percentage points from the previous month, according to the National Bureau of Statistics (NBS). A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The sub-index for business activity in the service sector stood at 49.7 in December, edging up 0.2 percentage points from November, signaling a modest recovery in sector vitality.
By sector, industries including telecommunications and broadcasting, monetary and financial services, and capital market services all recorded readings above 60, indicating strong growth in business activity. Sectors including retail and catering remained in contraction territory.
The business expectation index for the service sector remained relatively high at 56.4 in December, up 0.5 percentage points from the previous month, pointing to growing confidence among service enterprises about future market prospects.
Meanwhile, the construction sector displayed a clear recovery. Its business activity index rose to 52.8 in December, up 3.2 percentage points from November, buoyed by factors such as warmer-than-usual temperatures in some southern regions and accelerated construction progress ahead of the New Year and Spring Festival holidays.
The business expectation index for construction stood at 57.4, remaining in high-expansion territory and reflecting continued optimism in the industry.
"This month, the business activity index for the service sector saw a slight rebound, while the business activity index for the construction sector also returned to the expansion range, indicating a noticeable recovery in business climate," said Huo Lihui, director of the Business Climate Survey Division of the NBS Service Survey Center.
Driven by favorable supply and demand, market expectations among enterprises continued to strengthen. The business activity expectations index reached 56.5 percent, up 0.3 percentage points from the previous month.
"The expectations index has risen for three consecutive months, maintaining a healthy level above 56 percent, reflecting a notable rebound in market confidence," said He Hui, vice chairman of the China Federation of Logistics and Purchasing (CFLP).
Separately, the NBS reported that China's manufacturing PMI stood at 50.1 in December, up 0.9 percentage points from November.
China's non-manufacturing PMI at 50.2 in December amid market optimism
