Trade in Services Defies Headwinds
China's service trade expanded 8.3% year-on-year in the first half of 2026, according to data from the Ministry of Commerce and the General Administration of Customs, as digital services, tourism and high-end professional services led the growth despite global trade uncertainties. The figure marks a continuation of China's structural shift toward higher-value services trade.
Key Drivers
- Digital services exports: Software, cloud computing and AI-related services posted the strongest growth
- Tourism: Inbound and outbound travel recovering steadily as mobility restrictions ease globally
- High-end professional services: Consulting, legal and financial services gaining market share in Belt & Road corridors
- Telecommunications: Cross-border data and digital content trade continuing to scale up
Historical Context
China's total goods trade hit a record 25.47 trillion yuan in H1 2026, up 16.9% YoY. Within that, the services component — historically smaller but growing rapidly — is increasingly important as Beijing seeks to upgrade the trade structure away from pure goods exports toward integrated solutions that bundle physical products with services.
Policy Significance
Strong services trade growth is a policy priority: it generates high-wage employment, improves the current account structure and reduces reliance on manufacturing exports that face tariff risks. China's 1529 approved overseas exhibition projects in H1 2026 reflect efforts to promote Chinese services and brands abroad, complementing the physical goods export push.