China realized stable growth in its external service trade last
year, with the trade deficit declining, the Ministry of Commerce
announced at a press conference on Wednesday in Beijing.
The external service trade volume (excluding government
services) amounted to US$191.75 billion in 2006, up 22.1 percent on
the previous year.
The trade deficit in services stood at US$8.91 billion, down 3.9
percent from the 2005 level. The lower deficit was due to increases
in the country's trade surplus in tourism and computer and
information services.
Last year witnessed a rapid expansion of emerging services.
Exports of computer and information services rose 60.8 percent
and consulting services were up 47.2 percent, much higher than the
average growth of 23.7 percent in China's total service export
volume.
Moreover, export value in financial services soared 460 percent
to US$890 million, and the growth was due largely to increasing
services by securities firms as underwriters for domestic companies
to go public overseas.
(Xinhua News Agency May 31, 2007)