More opening-up, stable recovery, digitalization lift hopes of home and global markets

Between 2012 and 2022, a period that included nearly three years of COVID-19 disruptions to various economic activities, China's trade in services notched up an outstanding record. It grew more than 6 percent annually on average — 3 percentage points more than the global growth rate — helping China to extend its position as the world's second-largest trader in services for nine consecutive years.

Despite COVID-19, softening global goods trade and geoeconomic tensions, China's trade in services bloomed on the back of continuous opening-up, the stable recovery of the services sector and digitalization, experts said.Segments like human capital-intensive services, knowledge-intensive services and travel services — education, tourism, aircraft and vessel maintenance, TV and film production, and so forth — have been particularly active.
Over the past several months, China's optimized COVID-19 response has generated more business not only for the company but also providers of aviation consumables, aircraft repair and engine maintenance, catering firms, and both cargo and passenger airlines.

Source: China Daily