The ministry of commerce responded to the high trade deficit in services: a periodic phenomenon in the transformation
China's service trade deficit in 2016 reached a new high of $242.6 billion, according to data. The service trade deficit is a periodic phenomenon in China's economic transformation and upgrading, a spokesman for the commerce ministry said at a regular briefing today.
China's service trade deficit in 2016 hit a new high of $242.6 billion, according to data. The service trade deficit is a periodic phenomenon in China's economic transformation and upgrading, a spokesman for the commerce ministry said at a regular briefing today.
According to the peak introduction, China's service industry has developed rapidly in recent years and its scale has been continuously expanded. The added value of the first half of 2017 China's service industry proportion of GDP reached 54.1%, the service demand is very strong, reflect in the field of trade in services, service import growth faster, one is the outbound travel, study abroad and go to a doctor, the rapid growth of imports. Second, with the deepening of supply-side structural reform and accelerating transformation and upgrading of the manufacturing industry, the demand for high-end productive services such as technology, intellectual property and professional services has improved significantly.
The peak is that the service trade deficit is a periodic phenomenon in the process of economic transformation and upgrading in China. The import of specific industries such as technology and intellectual property plays a positive role in promoting the development of national economy and adjustment of industrial structure.
Along with the supply side of structural reform deepening, the development of service industry will continue to release potential, development momentum gradually accumulate, in the competitive advantage of service trade in China gradually revealed. 1 - July this year, in eight emerging in the field of service trade, our country in the financial, information technology, telecommunications, computer services, professional management consulting services and maintenance services five areas are surplus. In the insurance; Although the three areas of intellectual property and personal entertainment are deficits, China's export growth rate is higher than that of imports.
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