A service processing method, applicable to a terminal device comprising a first virtual machine, a second virtual machine, and a virtual machine manager Hypervisor, wherein the first virtual machine comprises at least one physical processor core, a rich execution environment REE is run in the first virtual machine, a first trusted execution environment TEE is run in the second virtual machine, a rich execution environment operating system REE OS and a plurality of client applications CAs are run in the rich execution environment REE, and a first TEE OS and a plurality of trust applications TAs are run in the first TEE; the plurality of CAs comprise a first CA; the plurality of TAs comprise a first TA corresponding to the first CA; the virtual machine manager Hypervisor comprises at least one communication channel, each communication channel corresponding to one virtual processor core in the second virtual machine; and the at least one communication channel comprises a first communication channel; the method comprising: receiving, by the REE OS, a first operation for starting the first CA; allocating, by the REE OS, first time slice resources of a first physical processor core to the first CA in response to the first operation; occupying, by the first CA after starting, the first time slice resources, and generating, by the first CA, a first service processing request for calling the first TA to execute service processing; sending, by the first CA, the first service processing request to the virtual machine manager Hypervisor through the first communication channel; receiving, by the virtual machine manager Hypervisor, the first service processing request sent by the first CA, and mapping and scheduling, to the first physical processor core, a first virtual processor core in the second virtual machine corresponding to the first communication channel; sending, by the virtual machine manager Hypervisor, the first service processing request to the first TEE OS; binding, by the first TEE OS after starting on the first virtual processor core according to the first service processing request, the first TA corresponding to the first CA with the first virtual processor core; yielding, by the first CA, second time slice resources in the first time slice resources to the first TA through the virtual machine manager Hypervisor, wherein the second time slice resources are currently remaining time slice resources in the first time slice resources; and executing, by the first TA by using some or all of the second time slice resources yielded by the first CA, a first service requested in the first service processing request. receiving, by the REE OS, a first operation for starting the first CA; allocating, by the REE OS, first time slice resources of a first physical processor core to the first CA in response to the first operation; occupying, by the first CA after starting, the first time slice resources, and generating, by the first CA, a first service processing request for calling the first TA to execute service processing; sending, by the first CA, the first service processing request to the virtual machine manager Hypervisor through the first communication channel; receiving, by the virtual machine manager Hypervisor, the first service processing request sent by the first CA, and mapping and scheduling, to the first physical processor core, a first virtual processor core in the second virtual machine corresponding to the first communication channel; sending, by the virtual machine manager Hypervisor, the first service processing request to the first TEE OS; binding, by the first TEE OS after starting on the first virtual processor core according to the first service processing request, the first TA corresponding to the first CA with the first virtual processor core; yielding, by the first CA, second time slice resources in the first time slice resources to the first TA through the virtual machine manager Hypervisor, wherein the second time slice resources are currently remaining time slice resources in the first time slice resources; and executing, by the first TA by using some or all of the second time slice resources yielded by the first CA, a first service requested in the first service processing request.