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Rise in China's knowledge-intensive services trade

Updated: Jan 13,2022 21:39    Xinhua

BEIJING — China's trade in knowledge-intensive services went up in the first 11 months of 2021 as the country deepens reform and boosts digital development, the Ministry of Commerce (MOC) said on Jan 13.

Trade in knowledge-intensive services in the January-November period topped 2.04 trillion yuan (about $321.5 billion), up 13.5 percent year-on-year, according to MOC spokesperson Shu Jueting.

Knowledge-intensive service exports increased 18.1 percent from a year ago, while knowledge-intensive service imports rose 8.3 percent, Shu said.

The stable growth came amid the rapid development of China's emerging services industry in recent years, Shu noted, adding that competitiveness of services supply in the country has improved significantly.

Surging digital demand also led to the increase of knowledge-intensive services. Online services and consumption, including medical care, education, and online retailing saw considerable growth, said the spokesperson.

Meanwhile, with over 90 percent of the measures to boost innovative development of services trade implemented, deepening reform and opening-up in the service trade area injected new impetus into its development, Shu said.

In spite of the possible complex international environment of 2022, the general improvement in service trade, including knowledge-intensive service trade, has not changed, said Shu.

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