This photo dated Sept 1, 2023 shows an interior view of the China National Convention Center in Beijing, capital of China. (PHOTO / XINHUA)

BEIJING — China's service trade value grew 8 percent year-on-year in the first eight months of this year, data from the Ministry of Commerce showed on Tuesday.

The service trade value reached 4.25 trillion yuan (about $592.1 billion), according to the data.

The figure represents 42.6 percent of the total service trade in the first eight months, up 0.9 percentage points from a year ago

Service imports climbed 22.5 percent year-on-year to 2.486 trillion yuan, while service exports fell 7.4 percent from a year ago to 1.767 trillion yuan, resulting in a deficit of  718.75 billion yuan in the first eight months of the year.

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China's trade of knowledge-intensive services maintained steady growth in the period, rising 10.4 percent year-on-year to about 1.81 trillion yuan.

The figure represents 42.6 percent of the total service trade in the first eight months, up 0.9 percentage points from a year ago.

During the period, services related to the travel sector registered a notable recovery. Total trade value in this sector surged 69.5 percent from a year earlier to 919.99 billion yuan.

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Exports and imports of travel services expanded by 54.9 percent and 70.7 percent year-on-year, respectively, according to the data.