China's foreign service trade reached a record high of $713 billion in 2015 according to the country's Commerce Ministry. The figure accounts for a 14.6% increase compared to the year before.
Data shows that export volume in service sector amounted to $288.2 billion during the same period, a year-on-year increase of 9.2%. The volume of imports rose 18.6% to $424.8 billion. The export of high value-added services saw increased growth during the year.
Export volume in telecommunications, computer and IT industries-related services grew 25%from 2014 to reach $27 billion. Management and consulting services grew 13.6% to reach $29.1 billion, advertising saw growth of 37.1% in exported services, while exported services in culture and entertainment grew 43.9%. Intellectual property license royalties collected from foreign users grew 64.9% during 2015.