On June 5, the official of the Departmentof Trade in Services and Commercial Services made comments on China’s importsand exports of services in January-April, 2018.
In the first 4 months of 2018, the totalvolume of China’s imports and exports of services reached 1.66535 trillionyuan, up 11.9% year on year. Among these, the exports was 552.61 billion yuan,up 13%; the imports was 1.11274 trillion yuan, up 11.4%; and the trade deficitwas 560.13 billion yuan. The official of the Department of Trade in Servicesand Commercial Services pointed out that China’s imports and exports ofservices mainly showed the following features in January-April, 2018.
1. Imports and exports of servicescontinued the trend of fast growth with the growth rate reaching a new highsince the beginning of this year. In terms of the US dollars, in January-April,the growth rate of imports and exports reached 21.4%, that of exports reached22.6% and that of imports reached 20.8%, all of these were the highest thisyear. The fast growth of imports and exports of services showed that thepositive trend of the global economy drove the demands of international marketto pick up, which provided positive external conditions for the development ofservice trade; at the same time, it showed that the measures introduced by thegovernment to support the development of service trade played important rolesin stabilizing expectations and promoting growth.
2. The growth rate of exports of serviceswas still higher than that of service imports. In the whole last year, thegrowth of service exports was higher than that of imports. The growth inJanuary-April this year continued the trend with the growth of service exportreaching 13%, 1.6 percentage points higher than that of service imports.
3. The proportion of exports of newservices in the total exports of service exceeded 50%. In January-April,imports and exports of new services was 547.79 billion yuan, increasing by18.7%, accounting for 32.9% of the total imports and exports of service, 1.9percentage points higher than that of last year. Among these, exports of newservices was 288.6 billion yuan, up 23.4%, accounting for over 50% (52%) of thetotal export of services, 4.4 percentage points higher than that of last year;imports of new services was 259.19 billion yuan, increasing by 13.9%.
4. Imports and exports of traditionalservices realized rapid growth. In January-April, the amount of imports andexports of traditional services like tourism, transportation and constructionwas 1.1049 trillion yuan, up 8.7%, among which, the sum of exports was 259.5billion yuan, up 3.3%, and sum of imports was 845.4 billion yuan, up 10.5%. Interms of specific fields, the amount imports and exports of tourism was 696.75billion yuan, up 8.3%; the total of the imports and exports of construction was78.83 billion yuan, up 14.6%; driven by the growth of trade in goods obviously,the amount of imports and exports of transportation was 295.51 billion yuan, up11.7%.