China Services Trade Grows 8.5 Percent in 2026

China's services trade grew 8.5 percent year-on-year to 5.77 trillion yuan, or approximately 858.89 billion U.S. dollars, during the first nine months of 2026. According to the Ministry of Commerce, services exports rose 14.8 percent to 2.27 trillion yuan, while imports increased 4.8 percent to 3.50 trillion yuan. This growth narrowed the country's services trade deficit by 132.66 billion yuan compared to the previous year, leaving a total deficit of 1.23 trillion yuan.

Transport services led all categories with a 33.9 percent surge in combined trade, totaling 1.28 trillion yuan. Trade in knowledge-intensive services grew 7.4 percent to 2.53 trillion yuan, with exports in that sector posting double-digit gains of 11.7 percent.

To maintain this momentum, the Ministry of Commerce launched a plan in April to establish national demonstration zones for services trade across 16 cities and Hainan Province. This initiative seeks to improve services trade liberalization by 2035 and aligns with the 15th Five-Year Plan and the 2026 government work report, which prioritize the service sector and the cultivation of the China Services brand. Li Bin, deputy head of the State Administration of Foreign Exchange, noted that China's position as the world's second-largest importer of services supports global trade and employment.