BEIJING: China’s annual trade in services exceeded 1 trillion U.S. dollars for the first time last year, demonstrating significant potential for further growth.
China’s services import and export value amounted to a record-high of 7.5 trillion yuan (about 1.05 trillion U.S. dollars) in 2024, expanding 14.4 percent year on year. Exports grew 18.2 percent year on year and imports grew 11.8 percent, according to the latest data from the Ministry of Commerce (MOC).
Driven by the global trends of digitization, smart technology advancement and green development, China’s trade in services grew in scale, its structure was optimized further and its international competitiveness was enhanced in 2024, said Li Jun, a researcher at the…
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