China's service trade volume hit historic height in 2018, with imported IPR loyalties grow at a high rate

On February 12, according to the official of Service Trade Department under the Ministry of Commerce, in 2018, China’s service import and export volume hit the historic height, with the structure continuously being optimized and the quality significantly improved.

Among which, the imported IPR loyalties saw significant growth and the demands for high-end productive services and the export competitiveness grew in the same pace. According to the official of Service Trade Department, in 2018, the imported IPR loyalties stood at 235.52 billion yuan, up 22% year on year; the export reached 36.8 billion yuan, up 14.4%. The export of technical service registered 115.35 billion yuan, up 14.4% year on year while the import volume totaled 83.92 billion yuan, up 7.9% over the same period last year. This demonstrates the thriving demand of China for the high-end productive services and the competitiveness in the high-end productive service export is also improving.

(Source: National Business Daily)