According to data from the Ministry of Commerce, China’s total service trade in the first quarter fell 10.8% year-on-year to 1.15 trillion yuan ($ 162.82 billion).
The Ministry of Commerce stated on May 2 that from January to March, the export value of the service industry decreased by 4.1% to 444.28 billion yuan, while the import value decreased by 14.5% to 708.02 billion yuan.
It said that the narrowing of the trade deficit that began last year continues.
Knowledge-intensive services account for more than 40% of the total. -Bloomberg