China’s foreign trade in services hit a new high last year at US$540 billion, as it expanded 14.7 percent from the previous year, Xinhua news agency reported, citing data released by the Ministry of Commerce on Wednesday. Exports of services reached US$211 billion, up 10.6 percent from a year earlier, while imports stood at US$329 billion, up 17.5 percent, the report said. High value-added service exports saw steady growth, with exports of financial services soaring 54.2 percent year on year. Traditional service exports, which used to account for a large part of total exports, declined compared to the previous year. In 2012, China’s services trade rose 12.3 percent to US$471 billion, making the nation the world’s third-largest trader of services.
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