Development of service trade from January to July 2020
Time:2020-09-03 16:19:36    Viewed:

From January to July, due to factors such as pneumonia in COVID-19, the scale of China's service trade declined, but the performance of service export was significantly better than that of import, the trade deficit decreased, and the proportion of knowledge-intensive service trade increased. From January to July, China's total import and export of services amounted to 2,619.3 billion yuan (RMB, the same below), down 15.2% year-on-year. Among them, the export was 1,085.27 billion yuan, down 1.4%; Imports reached 1,534.04 billion yuan, down by 22.8%. Mainly presents the following characteristics:

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In July, the growth rate of service exports turned from negative to positive. In July, my service export was 172.5 billion yuan, an increase of 3.3%. Among them, the export of personal cultural entertainment services was 1.04 billion yuan, an increase of 65.8%; Transport exports reached 34.46 billion yuan, an increase of 26.9%; The export of telecommunications computers and information services was 45.41 billion yuan, an increase of 24.3%; The export of financial services was 2.22 billion yuan, a year-on-year increase of 20.3%.

The service trade deficit has been greatly reduced. From January to July, the decline of China's service exports narrowed, while the decline of imports increased. The decline of exports was 21.4 percentage points less than that of imports, driving the service trade deficit down 49.4% to 448.77 billion yuan, a year-on-year decrease of 438.35 billion yuan.

Trade in knowledge-intensive services increased. From January to July, China's import and export of knowledge-intensive services reached 1,151.34 billion yuan, up 8.9%, accounting for 44.0% of the total import and export of services, up 9.7 percentage points. Among them, the export of knowledge-intensive services was 610.30 billion yuan, an increase of 9.7%, accounting for 56.2% of the total export of services, an increase of 5.7 percentage points; The areas with rapid export growth are intellectual property royalties, insurance services, telecommunications computers and information services, with an increase of 31.9%, 12.9% and 16.9% respectively. The import of knowledge-intensive services was 541.04 billion yuan, an increase of 8.0%, accounting for 35.3% of the total import of services, an increase of 10.1 percentage points; The fast-growing areas of imports are telecommunications, computers, information services and financial services, with an increase of 28.5% and 16.6% respectively.

Import and export of travel services declined. The epidemic situation and the measures taken by various countries to strictly restrict the cross-border movement of people continue to affect the import and export of travel services worldwide. From January to July, the import and export of travel services in China was 639.11 billion yuan, down 44.6%, and the decline was 1.7 percentage points higher than that in January-June; Among them, exports fell by 43.4% and imports fell by 44.8%, which led to the overall decline of service trade. Excluding travel services, China's import and export of services increased by 2.4% from January to July, in which exports increased by 4.3% and imports increased by 0.4%.

Guangdong we all can import & Export Trading Co., Ltd. (hereinafter referred to as we all can trading) was founded in Foshan, Guangdong, one of the four famous ancient towns in China.

The business scope of We All Can Trading company includes selling the famous products of shiwan ceramics shunde household appliances, lecong furniture zhangcha knitwear and so on, which are produced locally in foshan, and helping customers all over the world to purchase products made in China locally in foshan.
 
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