Booming inbound tourism showcases resilience, potential of China’s services trade

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By Hu Weijia (Global Times) 11:24, May 15, 2025

Travel services have always been an important sector within China's services trade. China has placed a high emphasis on the revival and development of its tourism industry, including inbound tourism. Measures have been introduced to facilitate entry and customs clearance, implement visa exemptions for visitors, and expand flight routes, all aimed at accelerating the recovery of inbound tourism. These measures have provided a positive impetus for the growth of the tourism services trade.

The tourism sector has played an important role in bolstering the overall growth of China's services trade. In the first quarter of 2025, China's total services trade reached 1.974 trillion yuan, an 8.7 percent increase year-on-year. Specifically, services trade exports amounted to 835.15 billion yuan, up by 12.2 percent. Amid global economic uncertainty and pressures on international trade, China's ability to achieve double-digit growth in services trade exports is noteworthy. This performance not only highlights the advancement of China's services sector but also provides substantial support to the country's broader external economic progress.

With significant advancements in information and transportation, along with the continuous development of globalization, an increasing number of services have become tradable goods. The potential of global services trade is continuously being unearthed. The continuous opening up of China's services industry aligns with this trend. Over the past few decades, China has steadily advanced the opening up of its services industry, continuously encouraging foreign investment in this field. China is exploring this through its free trade zones, the Hainan Free Trade Port, and many other institutional arrangements. The opening up of China's services industry is accelerating and gaining momentum.

Advancing the high-level opening of the services sector means embracing a broader scope, wider fields, and deeper levels of international engagement. This approach is beneficial for tapping into market potential, expanding services supply, and further unlocking the potential for service consumption. Not only does this play a positive role in driving the development of the services industry, but it also supports the growth of services trade.

In recent years, the global industrial and supply chain landscape has been undergoing swift changes, partly due to the surge in global protectionism. This has placed manufacturing at the heart of international competition. At the same time, there's a clear trend toward greater openness and development in the global services sector, marked by deeper cooperation and openness in services. Amid these shifts, China's external economy has shown remarkable resilience in goods trade and is making swift strides in expanding its presence in the services trade sector.

Certainly, China's services trade sector is not without its challenges, including a trade deficit. Yet, this deficit is on a downward trend. In the first quarter, the services trade deficit stood at 303.88 billion yuan, down 24.46 billion yuan year-on-year. The growth of China's services trade, particularly in exports, is rooted in the ongoing liberalization and steady progress of the services industry, ensuring its sustainability. This is anticipated to consistently inject fresh impetus into the expansion of China's international trade.

The author is a reporter with the Global Times.

(Web editor: Tian Yi, Zhong Wenxing)