China's service trade up 4.1% from January to April
Updated 10:00, 13-Jun-2019

China's service trade climbed 4.1 percent to 1.745 trillion yuan (about 252 billion U.S. dollars) in the first four months of the year.

Service exports totaled 619.28 billion yuan, up 10.1 percent, while service imports rose by 1.1 percent to 1.125 trillion yuan, the Ministry of Commerce said in a statement.

The country's service trade deficit stood at 506 billion yuan, down 9.7 percent year-on-year.

The growth rate of service trade has increased significantly. It reached nine percent in April alone, an increase of 6.8 percentage points from March.

Meanwhile, the production index of the service industry in April grew by 7.4 percent, the second highest since September last year.

Service exports secure a large share 

The proportion of service exports continued to increase. Policies such as tax cuts and fee reductions as well as deepening reform have contributed to this number.

In the first four months, service exports continued to maintain a double-digit growth, nine percentage points higher than the growth rate of imports. 

Service exports accounted for 35.5 percent of the total service trade, up 1.9 percentage points over the same period last year. The service trade deficit was significantly reduced.