China's services trade, total imports and exports in Jan-Aug up 14.3% year-on-year: Chinese report

According to the Ministry of Commerce of China, from January to August this year, China's trade in services continued to grow rapidly, with the total value of service imports and exports increasing 14.3% year-on-year to 4,886.56 billion yen (about 102 million US dollars).
Of this, exports increased by 13.3% to 2,058,400 million formers (approximately 42,200 billion yen), and imports increased by 15.1% to 2,880,720 million formers (approximately 6,100 billion yen).
The trade balance in services was a deficit of 874.88 billion former (approximately 18.4 trillion yen).
The characteristics of trade in services for January-August 2024 are as follows:
Trade in knowledge-intensive services continued to grow. In the first eight months of the year, imports and exports of knowledge-intensive services increased 4.4% to 1,897.37 billion yen.
million former (approximately 40 trillion yen). Of this, exports increased by 3.1% to 1.772 trillion former (approximately 22.7 trillion yen). Areas that showed high growth were culture and entertainment services, which increased by 13.8%, and intellectual property services, which increased by 13.8%.
Imports increased by 6.2% to 820.17 billion former (approximately 17.2 trillion yen), with the largest increases being in personal culture and entertainment services, which increased by 35%, and other business services, which increased by 10%.
Trade in travel services also showed a high growth rate. The export and import value of travel services in the first eight months of the year increased 45% to 1,333,640 million former (approximately 2.5%).
8 trillion yen).