China's service trade volume hits new record

As China is deploying more resources and manpower to develop its fast-growing modern service industry, the country's service trade volume hit $495.33 billion in the first three quarters of this year, increasing by 15.9 percent on a year-on-year basis.

Thanks to China's fast-growing insurance, culture, telecommunication and information service sectors, the proportion of service trade accounted for 14.6 percent of the country's foreign trade volume in the first three quarters of 2015.

The export of intellectual property rights, culture and entertainment exports grew by 80 and 53 percent year-on-year between January and September of this year.

With a total trade volume of $107.36 billion, service business in Shanghai took the lead of the country's service trade, up 16.3 percent from the same period of previous year.