A staff member shows off an optical motion capture system at the 2022 China International Fair for Trade in Services in Beijing, capital of China, Sept 1, 2022. The Ministry of Commerce showed that China's services trade value increased by 12.9 percent year-on-year in 2022, PHOTO XINHUA BEIJING - China's services trade value grew 12.9 percent year-on-year.
According to the data, the total trade value stood at 5.98 trillion yuan or $884.29 billion.
Exports of services increased 12.1 percent year-on-year to around 2.85 trillion yuan in the period, while imported services totaled 3.13 trillion yuan, up 13.5 percent from a year ago, resulting in a deficit of 275.71 billion yuan.
Trade in knowledge-intensive services was up 7.8 percent year-on-year, up 2.51 trillion yuan in 2022.
Exports of Knowledge-intensive services increased by 12.2 percent to 1.42 trillion yuan, led by categories such as intellectual property royalties and computing and information services.
Travel services rose 8.4 percent from the previous year's level to around 855.98 billion yuan, as the sector's trade increased 8.4 percent from the previous year, according to the data.