China's Service Trade Development and Policy Implications for Korea: Focused on Major Industrial and Regional Analysis

Sanghun Lee ()
Additional contact information
Sanghun Lee: Korea Institute for International Economic Policy, Postal: Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si,Korea, http://www.kiep.go.kr/index.do

No 18-27, World Economy Brief from Korea Institute for International Economic Policy

Abstract: The Chinese government is pushing for the opening of the countrys service sector and fostering the producer service industry through its 13th Five-Year Plan. Aiming to realize these goals, China emphasizes a highly open market and external cooperation, and focuses on the development of the service industry and the expansion of the service trade as it did in the past by opening policies. Chinas service trade volume was estimated to reach $657.1 billion in 2016 and exceed $1 trillion in 2020. Among Korean exports to the mass market, the share of service exports is growing from 9.7% (2011) to 14.5% (2016), and China has emerged as Koreas largest service market and largest service trade surplus country since 2013. The fact that China`s service trade and Koreas exports of services to China are both expanding rapidly points toward an opportunity to increase the role of Koreas services trade with China in the future. This study seeks to explore new export engines that can boost trade in the services sector. To this end, the study examines ways to boost services trade with China based on an analysis of industries and regions with good prospects.

Keywords: Service Trade; China; Korea (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Pages: 5 pages
Date: 2018-10-24
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.kiep.go.kr/gallery.es?mid=a10105040000 ... ist_no=5050&cg_code= Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepwe:2018_027

Access Statistics for this paper

More papers in World Economy Brief from Korea Institute for International Economic Policy [30147] 3rd Floor Building C Sejong National Research Complex 370 Sicheong-daero Sejong-si, Korea. Contact information at EDIRC.
Bibliographic data for series maintained by Geun Hye Son ().