Ministry of Commerce of China: What are the main factors leading to the decline of service trade deficit?

Ministry of Commerce of China: Continue to promote the export of emerging services. The main factors for the decline in the service trade deficit are seriously affected by the epidemic situation and other factors such as the decline of the world economic level. However, we must actively take corresponding measures to solve and deal with it.

By comparing the strength differences of service trade, we know that service trade is declining. The introducer said that the main reason for the sharp drop in import and export was the export of traditional new services. The reasons for the decline in trade spreads include that many places cannot carry out normal trade and export due to the epidemic, which brings economic benefits and leads to a sharp decline in import and export performance. Before the outbreak, travel clothing trade had a large area and region, and clothing trade was closely related to travel. It has dropped by more than 50% than before the epidemic, so this is also one of the important factors for the decline of trade spreads. Not only that, but also because the economic level is declining. The promotion of traditional service exports has also caused the spread of service trade. Relevant departments show that the export of new services is also a key factor to narrow the spread of China's trade services, and it is necessary to strengthen the changes of new service export policies and measures.

Relevant staff and leaders said that the service industry will be further opened in the future and the innovative development of various service trade will continue to be promoted. Through the service trade conference, international cooperation in various industries can be strengthened, so as to better promote import and export, and also promote the coordinated development and economic development of various industries and bring more economic benefits. It is necessary to speed up the export of this knowledge-intensive service and strengthen the supply of various policies and security issues.

The cause of the epidemic has always been the main factor, but we must strengthen the improvement of the controllable factors, that is, strengthen the new export model and export to knowledge-intensive industries, including various electronic telecommunications, computer information services and intellectual property rights. The overall speed of this service export will grow faster and bring more economic benefits.