On April 1st, the Ministry of Commerce released data showing that from January to February 2025, China's service trade grew rapidly, with a total import and export of services of 1309.56 billion yuan (RMB, the same below), a year-on-year increase of 9.9%. Among them, exports amounted to 549.58 billion yuan, an increase of 13%; Imports amounted to 759.98 billion yuan, an increase of 7.8%. The trade deficit in services was 210.4 billion yuan, a decrease of 8.33 billion yuan from the same period last year. Specifically, knowledge intensive trade in services continues to grow. From January to February, the import and export of knowledge intensive services reached 476.65 billion yuan, an increase of 2.5%. Among them, the export of knowledge intensive services reached 285.73 billion yuan, an increase of 3.3%. The export scale of other commercial services, telecommunications, computers, and information services was relatively large, with amounts of 145.52 billion yuan and 111.9 billion yuan, respectively, with growth rates of 4.5% and 6%; The import of knowledge intensive services reached 190.92 billion yuan, an increase of 1.4%. The trade surplus of knowledge intensive services was 94.81 billion yuan, an increase of 6.38 billion yuan compared to the same period last year. Travel services are growing the fastest. From January to February, travel services continued to maintain high-speed growth, with imports and exports reaching 409.8 billion yuan, an increase of 28.9%, making it the largest sector of service trade. Among them, exports increased by 142.6% and imports increased by 21.1%. Song Siyuan, Deputy Researcher at the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, stated in an interview with Securities Daily that overall, in the first two months of this year, China's service trade imports and exports maintained a steady growth trend, and the growth of travel services did not diminish. Knowledge intensive service trade, while maintaining sustained growth, continues to expand its trade surplus, playing an important role in narrowing China's service trade deficit and serving as a crucial engine supporting the high-quality development of service trade. Professor Chen Jianwei from the National Institute of Opening up at the University of International Business and Economics stated in an interview with Securities Daily that the sustained growth of knowledge intensive service trade highlights China's competitiveness in the technology and knowledge driven fields of global service trade; The explosive growth of travel services reflects the release of domestic consumption potential and the recovery of international exchanges, providing strong impetus for the growth of service trade. This year's Government Work Report proposes to promote innovative development of service trade, enhance the competitiveness of traditional advantageous services, encourage service exports, and expand the import of high-quality services. Chen Jianwei stated that innovation is the core driving force for enhancing competitiveness in service trade and requires collaborative efforts from multiple parties. Firstly, we should accelerate the digital transformation of service trade, utilize technologies such as big data and artificial intelligence, innovate service models and formats, and improve service efficiency and quality; The second is to promote the integrated development of service trade and manufacturing industry, expand the import of productive services, and promote the transformation and upgrading of the manufacturing industry; The third is to strengthen policy innovation in service trade, optimize the business environment, and cultivate new forms and models of service trade. In Song Siyuan's view, the rapid growth of knowledge intensive and technology intensive service trade marks the acceleration of China's service trade to the high-end of the global value chain, and the gradual enhancement of industrial international competitiveness. The introduction of policy documents such as the "Opinions on Promoting the High Quality Development of Service Trade through High Level Opening up" provides strong institutional guarantees and incentive mechanisms for the innovative development of service trade. China will actively promote the diversification of service trade partners, broaden the international market boundaries of service trade, promote deep integration with the international market, and stimulate the development potential of service trade from a deeper and broader perspective. Looking ahead to the future, Chen Jianwei stated that there is still vast room for improvement in China's service trade. This year, with the continuous recovery of the economy, the scale of service trade will continue to expand. Digital trade and green trade will be important driving forces for service trade, and the openness of service trade will continue to deepen. (New Society)