Trade in Travel Service Rebounds Quickly in China; More Focus on Services Trade

Data from China's Ministry of Commerce (MOFCOM) shows that over the first ten months of 2023, services trade totaled 5.34 trillion yuan (about US$750 billion), with imports growing nearly a quarter, thanks to the recovery of travel services. Meanwhile, Beijing is trying to expand digital services trade, which accounts for 40% of the nation's trade in services.