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January-August Chongqing service trade import and export reaches $ 8.5 billion, an increase of 27%

Updated: 2014-09-21

chinadaily.com.cn

Recently, it's learnt from Chongqing Municipal Foreign Economic and Trade Commission that from January to August this year, Chongqing service trade import and export reached $ 8.5 billion, an increase of 27 percent.

Data show that, at present, the proportion of service sector accounts 70 percent of the world economy. In China, the service industry's contribution to China's GDP growth also exceeded the manufacturing industry, accounting for nearly half of the China's GDP growth which means that China will be entering the "service-oriented" era.

In the future, the service industry will increase its proportion in the national economy and China’s industrial structure will be gradually changed from "pulling by manufacturing industry" to "pulling by manufacturing industry and service industry". China will also change from "world factory" to "world market", from "Made in China" to "Served in China" and from "talent training country" to "talent employed country".

Data released from Chongqing Municipal Foreign Economic and Trade Commission showed that during 2007-2013, the total trade in services in Chongqing has been increase from $ 1.137 billion to $ 10.5 billion, an increase of nearly 10 times. Microsoft, IBM, Oracle, Meihuang Management Consulting Ltd. (APL Global Service Center) and other 100 global outsourcing companies have settled in Chongqing.

A responsible official from Chongqing Municipal Foreign Economic and Trade Commission said that Chongqing's service trade export countries and regions mainly include the United States, Australia, Britain, and Germany, and service trade import countries and regions mainly include the United States, Canada, Switzerland, and Japan.

Trade in services was mainly concentrated in the traditional tourism, transport and foreign project contracting, and modern service industry focused technology patents introduction and management consulting services. Trade in services accounted for 13.2 percent of Chongqing’s import and export trade, two percentage points higher than the national level. The service industry has become an important engine to boost the city economy.

As for January to August of this year, import and export trade services in Chongqing reached $ 8.5 billion, an increase of 27 percent, which included $ 4.9 billion import volume, and $ 3.6 billion expert volume.

From sector aspect, tourism and transport accounted for 26 percent and 16 percent of the total import and export trade in services respectively. The patent royalties and computer information services accounted for 28 percent and 10 percent of the total amount.

As an important part of the trade in services, international service outsourcing gained rapid development in Chongqing. From January to August, Chongqing's international service outsourcing contracts reached $ 1.07 billion, an increase of 20 percent, accounting for 10 percent of the total import and export trade services.

January-August international service outsourcing market concentrated in Asia, North America, with a volume of $ 133.41 million in the United States, accounting for 16 percent; $ 55.46 million in Singapore, accounting for 7 percent and $ 28.41 million in the United Kingdom, accounting for three percent.

 

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