China services trade value up 17.2% in first 10 months

BEIJING - China's services trade value grew 17.2 percent year-on-year in the first 10 months of 2022, data from the Ministry of Commerce showed on Thursday.

The total trade value stood at nearly 4.92 trillion yuan ($690.77 billion), according to the data.

Services exports expanded 18.1 percent year-on-year to 2.36 trillion yuan, and services imports totaled over 2.56 trillion yuan, up 16.4 percent from a year ago.

Trade in knowledge-intensive services raked in nearly 2.05 trillion yuan, up 10.3 percent year-on-year, the data showed.

Knowledge-intensive services exports gained 14.3 percent to hit nearly 1.15 trillion yuan, led by categories such as intellectual property royalties and computing and information services.

Travel services continued to recover during this period, as trade in the sector advanced 9.1 percent from a year earlier to 689 billion yuan.