Deficit in foreign service trade widens

Advanced Search

The story appears on

Page A11

September 3, 2018

GET this page in PDF

Free for subscribers

View shopping cart

Deficit in foreign service trade widens

Source: Xinhua | 00:01 UTC+8 September 3, 2018 |

Print Edition

China continued to see a bigger deficit in foreign service trade in July, data from the State Administration of Foreign Exchange showed.

Income from trade in services stood at US$19 billion last month, while expenditures were US$44.3 billion, giving a deficit of US$25.3 billion.

The deficit widened from the US$22.1 billion seen in June.

In contrast to merchandise trade, trade in services refers to the sale and delivery of intangible products such as transport, tourism, telecommunications, construction, advertising, computing, and accounting.

China has taken steps to improve the development of trade in services, including gradually opening up the finance, education, culture, and medical treatment sectors.

SAFE began issuing monthly data on the service trade in January 2014 to improve the transparency of balance of payments statistics. Since the start of 2015, it has also included monthly data on merchandise trade in its reports.

In July, China recorded a surplus of US$32.6 billion in its foreign merchandise trade.

Business

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Deficit in foreign service trade widens

Email this to your friend