china manufacturer factory

China become  the fifth largest in the world in  trade exports service

Although the second half of last year the international financial turmoil of China's foreign trade, but the news yesterday from the Ministry of Commerce said China's service trade volume last year exceeded 300 billion U.S. dollars mark, world ranking rose to seventh from fifth last year.

Department of Commerce data show that in 2008, China's service trade import and export amounted to 304.45 billion U.S. dollars, representing 21.3 percent growth in 2007, an increase of 9.6 percentage points back. China's service trade import and export of world trade in services accounted for the total amount of 4.23%. China's service trade exports by the world ranking of seventh in 2007 rose to fifth place, up 20.4 percent of trade in services imports rank fifth in the world.

In 2008 despite rapid growth of trade in services, but this year by the financial crisis, declining external demand will lead to a drop in demand of trade in services, in some sectors more affected. Ministry of Commerce said that global trade in services will continue to decline in the trend, this year, China's service trade development challenges facing the greater will be the Chinese economy and the development of trade in goods to keep pace.