China just made history! For the first time ever, the Chinese mainland's annual trade in services has smashed through the $1 trillion barrier in 2024, showing off some serious growth vibes. 🎉
According to the latest stats from the Ministry of Commerce, the services import and export value hit a record-breaking 7.5 trillion yuan (about $1.05 trillion), marking a whopping 14.4% increase year on year. 📈
Exports didn't hold back, jumping 18.2%, while imports cruised up by 11.8%. This epic growth is fueled by global trends like digitization, smart tech, and going green. 🌐💡🌿
Li Jun, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said that in 2024, China's trade in services not only grew bigger but also got better in structure and competitiveness. 💪
What's more, the chill vibes from the relaxed and optimized visa-free transit policy have boosted inbound tourism over the past year. Time to pack those bags! 🧳✈️
Reference(s):
China's annual trade in services exceeds $1 trillion for first time
cgtn.com
