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MOFCOM Department of Trade in Services and Commercial Services Comments on China’s Service Import and Export in January-May 2017

MOFCOM

2017-07-11

 

On July 4, the Head of MOFCOM Department of Trade in Services and Commercial Services made a statement on China's service import and export situation in January-May.

 

In January-May 2017, China's service import and export went better steadily and the total value of import and export reached 1.82463 trillion yuan, with an increase of 9.2% year on year. Among these, the export was 567.94 billion yuan, with an increase of 4.6% and the import was 1.25669 trillion yuan, with an increase of 11.5%. The deficit was 688.75 billion yuan.

 

The Head of MOFCOM Department of Trade in Services and Commercial Service pointed out that in January-May 2017, China's service import and export mainly showed the following features:

 

Firstly, the service import and export went better steadily. In May, the growth reached 14.1%. In May, China's service import and export value reached 378.87 billion yuan, with an increase of 14.1%, 9.1 percentage points higher over last month. Among these, the export was 114.59 billion yuan, with an increase of 7.2%, 4.4 percentage points higher over last month; and the import was 264.28 billion yuan, with an increase of 17.4%, 11.4 percentage points higher than in last month.

 

Secondly, the export growth of emerging field accelerated obviously. In January-May, the service export of emerging field accumulated to 284.55 billion yuan, with an increase of 9.4% year on year, 4.8 percentage points higher than the general growth, accounting for 50.1% of service export, 2.2 percentage points higher year on year. Among these, the export of telecommunication and computer and information service was 77.92 billion yuan, with an increase of 9.4% year on year. In May, the export was 16.91 billion yuan, turning into increasing 32.2% from decreasing 6.4% year on year in April. The export of intellectual property royalty was 11.97 billion yuan, with an increase of 423% year on year, continuing to maintain a high-speed growth momentum.

 

Thirdly, the import of emerging fields such as technology increased rapidly. In January-May, except for insurance and finance, the import of other emerging fields of China maintained positive growth. Among these, the import of telecommunication and computer and information service was 51.77 billion yuan, up 77% year on year and the technology and intellectual property royalty added up to 110.97 billion yuan, up 20.1% year on year.

 

Fourthly, the import and export of transportation and tourism service maintained positive growth in the previous five months. In January-May, the import and export of China's traditional service added up to 1.82463 billion yuan, with an increase of 8.6% year on year. Both transportation and tourism maintained positive growth in the previous five months, and the growth of transportation service maintained a double-digit growth in the previous five months.

 

Fifthly, the deficit of service import and export was further expanded. In January-May, the deficit of China's import and export was 688.75 billion yuan, with an expansion of 17.9%. The deficit mainly centered on three industries including tourism, transportation and intellectual property royalty, while professional management and consultancy service, telecommunication and computer and information service and processing service became major contributing fields of favorable balance.

 

 
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