Published: 21:03, January 4, 2024 | Updated: 21:13, January 4, 2024
China's service trade up 9% in Jan-Nov 2023
By Xinhua

Game players demonstrate a virtual reality game to the audience during the 2023 China International Fair for Trade in Services (CIFTIS) at Shougang Park in Beijing, capital of China, Sept 5, 2023. (PHOTO / XINHUA)

BEIJING — China's total service import and export volume grew 9 percent year-on-year in the first 11 months of 2023, data from the Ministry of Commerce showed Thursday.

The service trade volume exceeded 5.89 trillion yuan (about $829.61 billion) during the January-November period last year, according to the ministry.

China's trade of knowledge-intensive services maintained steady growth during the period, rising 8.3 percent year-on-year to 2.44 trillion yuan

Of the total, service imports grew 23.5 percent year-on-year to top 3.48 trillion yuan, while service exports fell 6.8 percent year-on-year to 2.41 trillion yuan.

READ MORE: China's service trade up 8.5% in first six months

China's trade of knowledge-intensive services maintained steady growth during the period, rising 8.3 percent year-on-year to 2.44 trillion yuan.

Services related to the travel sector registered notable growth. The sector's total trade surged 73.5 percent year-on-year to more than 1.31 trillion yuan.

READ MORE: China's service trade up 8% in first eight months

Exports and imports of travel services expanded 56 percent and 74.9 percent year-on-year, respectively.