China's knowledge-intensive service exports grow 12.2% in first 5 months

(ECNS) -- China's exports of knowledge-intensive services reached 667.75 billion yuan (about $98.36 billion) in the first five months of this year, up 12.2 percent year on year, according to data released by the Ministry of Commerce (MOC) on Friday.

China's total trade in services reached over 3.1 billion yuan from January to May, up 6% year on year, maintaining a steady growth momentum, the MOC said. Exports of intellectual property royalties and personal, cultural, and recreational services recorded the fastest growth, rising 64.9% and 50.1%, respectively.

Driven by a series of policies aimed at boosting inbound tourism consumption, China's travel service exports reached 188.5 billion yuan over the January–May period, surging 31.3% year on year. It was the fastest-growing category among the top five service export sectors.

(By Zhang Dongfang)