China's service trade saw a 16% year-on-year increase during the first five months of 2024, with outstanding performance in travel services, according to the Chinese news agency "Xinhua," citing the Ministry of Commerce on Friday. The ministry announced that the total value of service imports and exports reached 3.02 trillion yuan (about 412.7 billion dollars), with exports around 1.22 trillion yuan, up 11%, while imports amounted to 1.8 trillion yuan, experiencing strong growth of 19.6%. This resulted in a service trade deficit of approximately 580 billion yuan.
Title: Chinese Service Trade Rises by 16%
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