China's Q3 Service Trade Expands 8.5 Percent to 57.7 Billion Yuan

The national service trade sector recorded a 57.69 billion yuan turnover during the first three quarters, marking an 8.5 percent year-on-year rise. Commerce ministry disclosures indicate that international service exchanges are gaining new momentum as domestic industries adapt to global market demands.

Service exports accelerated at a faster pace than imports, achieving a 14.8 percent uplift to 22.71 billion yuan. Imports followed a more moderate 4.8 percent trajectory, reaching 34.97 billion yuan. The divergence in growth rates successfully narrowed the trade deficit to 12.26 billion yuan, a decline of 1.33 billion yuan compared to the previous year.

Transport-related services stood out as the primary growth engine. The sector’s total transaction value jumped 33.9 percent to 12.82 billion yuan. Exports in this domain reached 4.82 billion yuan, while imports climbed to 7.99 billion yuan, signaling robust activity in freight, passenger transport, and related logistical operations.

High-value commercial activities also gained traction. Trade in knowledge-intensive services expanded by 7.4 percent to 25.32 billion yuan, capturing 43.9 percent of the overall service trade market. Exports within this specialized group grew 11.7 percent to 12.20 billion yuan, representing 53.7 percent of national service exports.

Specific verticals within knowledge-intensive services showed exceptional performance. Cultural and entertainment exports for personal use surged 69.1 percent, while insurance and pension exports rose 50.3 percent. Meanwhile, imports of knowledge-intensive services reached 13.12 billion yuan, up 3.7 percent, comprising 37.5 percent of total service imports. These figures illustrate a continued pivot toward innovation and professional service sectors.