Adverse effects of the global financial crisis on international trade include falling demand, increased trade protectionism, and drying up of trade finance. Much attention has focused on the impact of the crisis on goods trade; however literature on its impact on services trade is limited, especially on the services trade in the People’s Republic of China (PRC). This paper analyzes the impact of the global financial crisis on the PRC’s services trade, discusses the government’s policy responses, and raises policy suggestions.