China’s Service Trade Surges to $1.02 Trillion: Exports Boom as Trade Deficit Shrinks

• Source: Xinhua

China’s trade in services maintained a steady upward trajectory in the first 11 months of 2025, reaching nearly 7.2 trillion yuan ($1.02 trillion)—a 7.1% increase year-on-year. According to the Ministry of Commerce, service exports witnessed a robust growth of 13.4%, totaling 3.2 trillion yuan. This surge contributed to a significant reduction in the service trade deficit, which dropped by 279.63 billion yuan compared to the same period in 2024.

The data highlights a 5.6% growth in knowledge-intensive services, totaling 2.73 trillion yuan. Additionally, the travel services sector showed exceptional performance, with total trade reaching 1.98 trillion yuan. Travel exports, in particular, skyrocketed by 51.3%, reflecting China’s revitalized tourism and global service exchange as it concludes its 14th Five-Year Plan.