China has strong demand for services supplied from abroad, creating opportunities for international businesses where market access and commercial conditions permit. In the first eight months of 2026, China imported USD 444 billion in commercial services, compared with exports of USD 293 billion, resulting in a USD 152 billion trade deficit. These purchases span international travel, transport, business services and other activities that connect Chinese consumers and companies with the global economy.

Within China, the services economy presents a broadly stable but uneven picture. The official services business activity index stood at 50.0 in October 2026, indicating little change in overall activity rather than a sharp slowdown. Transport and IT-related services showed stronger momentum, while subdued new orders pointed to continued caution among businesses and customers. Importantly, the broader non-manufacturing business expectations index remained positive at 54.7, suggesting that firms still anticipate better conditions ahead.

For international companies, the key is to look beyond China’s manufacturing and merchandise trade figures. Its demand for international services represents a major dimension of the country’s economic relationship with the world, while differences in domestic industry performance highlight the importance of identifying the right sectors, customers and opportunities.