In January-November 2018, the total volume of service import and export reached 4741.35 billion yuan (RMB, the same below), up 11.5% year on year. Among these, the export was 1580.29 billion yuan, up 14.7% year on year; the import was 3161.06 billion yuan, up 10% year on year. The trade deficit was 1580.77 billion yuan. China’s import and export of services mainly showed the following features:
The rapid growth trend since this year has been continuing. In November, the growth rates of import and export of services, the import, and the export reached 14.9%, 18.6% and 12.9% respectively. The import and export volume of January-November has exceeded that of the whole last year. The rapid growth of import and export of services showed that Chinas’ service economy was steady while enjoying a good trend, and the endogenous power of service trade continued to be strengthened. The series of measures to support innovation development of service trade issued by the state played an important role in stabilizing expectation and promoting growth.
The proportion of service export in the total volume of import and export hit a new record high. With the gradual enhancing of the brand influences of “China Service,” China’s capacity of service export was obviously strengthened. In the first 11 months, the growth rate of service export was 4.7 percentage points higher than that of service import, and the proportion of service export in the total volume of import and export of services reached 33.3%, 0.9 percentage points higher over the same period last year.
import and export of knowledge-intensive services realized balance development. In January-November, export of knowledge-intensive services was 777.71 billion yuan, up 26.2% year on year; the import was 735.71 billion yuan, up 15.6% year on year. Among these, export of telecommunication, computer and information services was 275.59 billion yuan, up 64.3%, the import was 141.28 billion yuan, up 20.9%; the export of technical services was 102.04 billion yuan, up 14.3%, and the import was 75.1 billion yuan, up 10%; the export of individual culture and entertainment services was 6.91 billion yuan, up 47.6%, and the import was 19.53 billion yuan, up 19.2%.
Service trade turned to high quality development, and the import and export of high-end services related to intellectual property became the highlight. In the first 11 months, the value of the import and export of royalty of intellectual property was 246.49 billion yuan, up 20.9%, among which the export was 33.27 billion yuan, up 15.4%, and the import was 213.22 billion yuan, up 21.9%; the export of services related to research and development was 58.94 billion yuan, up 13.6%, and the import was 135.72 billion yuan, up 12.1%. The rapid growth of import and export of services related to intellectual property showed that China’s demands for high-end productive services witnessed constant growth. It also showed that China’s capacity for scientific and technological innovation enjoyed gradual improvement.
