The advantages of featured service exports have been further consolidated. In 2020, China's total volume of imports and exports of personal cultural and entertainment services amounted for USD 4.32 billion, up 64.4% from the end of the 12th Five-Year Plan Period, with an average annual growth rate of 10.5%. Its share in the total volume of trade in services rose to 0.7%, 0.4 percentage points higher than that at the end of the 12th Five-Year Plan Period.
The import scale of high-quality services is constantly expanding. Affected by the pandemic, China's total volume of import services in 2020 was USD 381.09 billion, down 24.0% year on year, while the import of knowledge-intensive services, such as insurance services, financial services, telecommunications computer and information services, and intellectual property royalties, maintained a high growth rate of 14.6%, 28.6%, 22.6%, and 9.5%, respectively.
- The domestic layout is continuously optimized
Three core areas of trade in services have been formed. Beijing, Shanghai, and Guangdong have played a central role in promoting the development of domestic trade in services, demonstrating a prominent Leading Wild Goose effect. In 2019, the trading volume of import and export services of these three core service trade areas reached USD 475.98 billion, accounting for 60.6% of the domestic total volume.
The agglomeration effect of the three major trade in services agglomeration areas is enhanced. The agglomeration effect of the three major service trade clusters around Bohai Sea, Yangtze River Delta and Pan-Pearl River Delta is enhanced. In 2019, the share of import and export of services in the three clusters domestically accounted for 29.1%, 35.9% and 18.9% respectively.
The “Two Verticals and One Horizontal” radiation belt of trade in services have basically taken shape. The dominant position of "one vertical" along the eastern coast has become more consolidated, with 11 provinces and municipalities accounting for more than 85% of China's trade in services, promoting the mutual benefit of East and West along the Yangtze River, "Silk Road" along the domestic route, with the trade in services of these "two horizontals" accounted for more than 50%. The effect of implementing pilot and demonstration programs has become prominent. The share of offshore service outsourcing in 31 demonstration cities accounts for 90% of the total domestic implementation; the average growth rate of the import and export services in the 17 pilot regions for innovative development of trade in services continued to outpace that of the whole country, with their share in the domestic total increasing to over 70%.
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