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Service exports from China increase in 2017

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Service exports from witnessed expanded quickly in 2017, exceeding the increase of imports for the first time in seven years, figures from the Ministry of Commerce (MOC) in China showed last week.

The value of service exports increased by 10.6 percent to about 240 billion U.S. dollars last year, while imports increased 5.1 percent.

In contrast to trade in goods and products, trade in services refers to the sale and delivery of intangible products such as transportation, tourism, telecommunications, construction, advertising, computing, and accounting.