Services drag on H1 trade deficit
Print Edition
CHINA continued to see a current account deficit in the first half of 2018 mainly due to the strong domestic need for overseas services.
The deficit in the current account stood at US$28.3 billion in the first half, down from US$34.1 billion in the first quarter, the State Administration of Foreign Exchange said yesterday.
China’s service trade posted a deficit of US$147.3 billion, up from US$73.6 billion three months earlier. Spending on trips, transport, and intellectual property rights contributed to the bulk of the deficit.
China has taken steps to improve its trade in services, including gradually opening up its finance, education, culture, and medical sectors.
SAFE said China’s international balance of payments was within a range of equilibrium last quarter and will continue to remain reasonable in the future. The goods trade surplus was US$155.9 billion in H1.
- 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号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 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
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
