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International trade in goods and services of China (updated to January 2023)

In January 2023, the export and import of China's international trade in services totalled RMB 459.5 billion. Of this, the export recorded RMB177.4 billion and the import recorded RMB 282.1billion, resulting in a deficit of RMB 104.8billion.In terms of the major items,the export and import of transport, travel, other business services and telecommunications, computer and information services registered RMB 143.0 billion, RMB 109.1 billion, RMB 87.1 billion and RMB 56.3 billion respectively.

In the US dollar terms,in January 2023, China's international trade in services registered export of USD 26.1 billion and import of USD 41.5billion, resulting in a deficit of USD 15.4billion.

International Trade in Services of China

January2023

Notes:

1.As the Customs statistics of trade in goods for January 2022 will be disseminated together with data for February 2022 in March 2022, international trade in goods for January 2022 will be disseminated together with data for February 2022 as well.

2. The trade in services in this table refers to the transactions between residents and non-residents, based onthe same standard as that forBOPstatement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement.

3. The data on international trade in services are prepared in USD, and the RMB data for thecurrent month is derived by converting the USD data at the monthly averagecentral parityrate of the RMB against the USD.

4. This table employs rounded-off numbers.

Definition of Indicators:

1.Services:includesmanufacturing services on physical inputs owned by others, maintenance and repair servicesn.i.e, transport, travel,construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received.

1.1Manufacturing services on physical owned by others:processor only provides processing, assembly, packaging and other services and charges service fee from the owner,whilethe ownership of the goods isnot transferred between the owner and the processor. The credit side records themanufacturingservices supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa fordebit side.

1.2 Maintenance and repair services:refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa fordebit side.

1.3 Transport:refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postaland delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa fordebit side.

1.4 Travel:refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents.

1.5 Construction services:refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation,assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents.

1.6 Insurance and pension services:refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa fordebit side.

1.7 Financial services:refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side.

1.8 Charges for the use of intellectual property:refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side.

1.9 Telecommunications, computer and information services:refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa fordebit side.

1.10 Other business services:refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa fordebit side.

1.11 Personal, cultural and recreational services:refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films, radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa fordebit side.

1.12 Government goods and services n.i.e:refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side.