China's services trade value rose 12.9 percent year on year in 2022 to 5.98 trillion yuan ($884 billion), data from the Ministry of Commerce showed on Monday.

Exports of services expanded 12.1 percent year on year to around 2.85 trillion yuan, while imported services totaled 3.13 trillion yuan, up 13.5 percent from the previous year, resulting in a deficit of 275.7 billion yuan.

Trade in knowledge-intensive services raked in 2.5 trillion yuan in 2022, up 7.8 percent year on year.

Exports of knowledge-intensive services increased by 12.2 percent to reach 1.42 trillion yuan, driven by categories such as intellectual property royalties and computing and information services.

Travel services maintained recovery momentum, with trade in the sector rising 8.4 percent from the previous year to 856 billion yuan, data showed.

(Cover via CFP)