China News Service, May 2nd, according to the website of the Ministry of Commerce, on May 2, the person in charge of the Department of Trade and Services of the Ministry of Commerce introduced the development of China's service trade in the first quarter of 2020. The person in charge said that in the first quarter, due to factors such as the new coronary pneumonia epidemic, China's service trade scale has declined, but the trade deficit has continued to shrink since last year, and the structure has improved.
The person in charge pointed out that China's total service imports and exports in the first quarter was 1,152.30 billion yuan (RMB, the same below), down 10.8% year-on-year. Among them, exports were 444.28 billion yuan, down 4.1%; imports were 708.02 billion yuan, down 14.5%. Mainly present the following characteristics:
The deficit in service trade has decreased significantly. In the first quarter, China's service exports and imports both declined, but the service export decline was less than 10.4 percentage points of imports, and the service trade deficit narrowed by 27.7% to 263.74 billion yuan, a year-on-year decrease of 101.26 billion yuan.
Knowledge-intensive services accounted for more than 40%. In the first quarter, China's imports and exports of knowledge-intensive services reached 466.93 billion yuan, an increase of 7.8%, accounting for 40.5% of the total value of services imports and exports, an increase of 7 percentage points over the same period of the previous year, showing strong resistance to epidemic shocks. Among them, the export of knowledge-intensive services was 262.42 billion yuan, an increase of 11%, accounting for 59.1% of the total service exports, an increase of 8 percentage points; the areas with faster export growth were intellectual property royalties, financial services, telecommunications computers and information services , An increase of 29.2%, 23.9% and 14.7% respectively. The import of knowledge-intensive services was 204.51 billion yuan, an increase of 4.1%, accounting for 28.9% of the total service imports, an increase of 5.2 percentage points; the areas with faster import growth were telecommunications computer and information services, and financial services, which increased by 38.4% and 6.2, respectively %.