Ser­vice trade ex­pected to sur­pass $660b in 2014

China Daily (Canada) - - BUSINESS -

The ser­vice trade in China is ex­pected to sur­pass $660 bil­lion in 2014 and ex­ceed $1.2 tril­lion by 2020, theMin­istry of Com­merce said on its web­site. Dur­ing 2011 to 2013, the ser­vice sec­tor ac­counted for 10.3 per­cent, 10.8 per­cent and 11.5 per­cent of China’s for­eign trade, re­spec­tively. In the first quar­ter of this year, the fig­ure reached 12.4 per­cent, up 1.4 per­cent­age point from a year ear­lier. be­hind the in­dus­try-wide av­er­age. Hyundai boosted sales by 9.6 per­cent in China in the first six months of this year, lag­ging be­hind the 11 per­cent in­dus­try­wide growth rate, ac­cord­ing to com­pany and auto as­so­ci­a­tion data.

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