China's services trade up 15.6 pct in first 11 months of 2022

BEIJING, Jan. 6 (Xinhua) -- China's services trade value went up 15.6 percent year on year in the first 11 months of 2022, data from the Ministry of Commerce showed Friday.

The total trade value stood at more than 5.4 trillion yuan (about 783.61 billion U.S. dollars), according to the ministry's spokesperson Shu Jueting.

Services exports expanded 15.5 percent year on year to 2.58 trillion yuan in the reporting period, while services imports totaled over 2.82 trillion yuan, up 15.6 percent from a year ago, resulting in a deficit of 237.62 billion yuan.

Trade in knowledge-intensive services raked in nearly 2.25 trillion yuan in the first 11 months of 2022, up 10.1 percent year on year, Shu said.

Knowledge-intensive services exports gained 13.4 percent to hit over 1.26 trillion yuan, led by categories such as intellectual property royalties and computing and information services.

Travel services continued to recover in the January-November period, as trade in this sector advanced 8.2 percent from a year earlier to over 758 billion yuan, according to Shu.