(Yicai Global) Sept. 7 -- China's service imports and exports for the first seven months of the year rose 10.6 percent annually to reach USD406.4 billion (CNY2.65 trillion), with accelerated growth seen in emerging sectors, Ministry of Commerce data show.

From January through July, China's export and import respectively reached USD123.86 billion, up by 4.4 percent, and USD283.7 billion, up by 13.5 percent resulting in a deficit of USD159.5 billion.

In terms of imports, emerging sectors totaled USD62.22 billion, increasing 8.3 percent annually, and 3.9 percentage points higher than the overall growth rate. The export of patent royalties, in particular, surged 489.4 percent, and that of personal culture services climbed 20.4 percent.

In terms of imports, all emerging sectors except finance maintained positive growth, with imports of computer and information services rising 74.2 percent to USD11 billion. Imports of patent royalties rose 25.8 percent from last year to reach USD17.26 billion.

The total amount of service outsourcing contracts signed by Chinese businesses was USD84.81 billion between January and July, up 7.6 percent, while contract work worth USD60.38 billion was completed an increase of 13 percent.