China's Services Trade Up 2.3% in Q1, Exceeding 1.8 Trillion Yuan
According to data released by the Ministry of Commerce on Friday, China's services trade maintained a positive trend in the first quarter of 2026, growing 2.3% year-on-year. Total services trade exceeded 1.8 trillion yuan (approximately $267.9 billion). Services exports reached 704.52 billion yuan (+11.2%), while imports stood at 1.1 trillion yuan (-2.6%).
The ministry highlighted two key characteristics. First, exports of knowledge-intensive services grew 6.1% to 384.26 billion yuan, particularly in personal cultural and entertainment services (+25.6%) and financial services (+16.1%). Second, tourism services exports surged 32.3% to 105.35 billion yuan, while transport services imports rose 22.8% to 230.2 billion yuan.
Inbound tourism has been booming thanks to China's expanded visa-free policies and conveniences such as instant tax refunds for departing visitors.
