China’s Services Exports Returned to Positive Growth in July: MOFCOM

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The latest data from the Ministry of Commerce (MOFCOM) indicates that China’s services exports returned to positive growth in January.

MOFCOM data indicates that China’s services exports were 172.5 billion yuan in July, for a YoY rise of 3.3%.

This included 1.04 billion yuan in cultural and entertainment service exports, for a YoY rose of 65.8%; 34.46 billion yuan in transit exports for growth of 26.9%; 45.41 billion yuan in computer and information service exports, for growth of 24.3%, and 2.22 billion yuan in financial services exports, for growth of 20.3%.

China’s services trade deficit has also seen a large scale reduction since the start of 2020, falling 49.4% to 448.77 billion for the January – July period, for a YoY reduction of 438.35 billion yuan.

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