1. China’s services trade deficit narrows to $20.3 bn in April: Foreign exchange regulator

China’s services trade deficit narrows to $20.3 bn in April: Foreign exchange regulator

China's trade deficit in services narrowed to $20.3 billion in April from $21 billion in March, the foreign exchange regulator said on Friday.

By: | Beijing | Published: May 27, 2016 1:12 PM
China had a .4 billion surplus on trade of goods in April, data from the online statement showed. (Reuters) China had a .4 billion surplus on trade of goods in April, data from the online statement showed. (Reuters)

China’s trade deficit in services narrowed to $20.3 billion in April from $21 billion in March, the foreign exchange regulator said on Friday.

April’s gap was largely led by a $18.3 billion gulf in spending between Chinese who spent more abroad than foreign tourists did in China, data from the State Administration of Foreign Exchange (SAFE) showed.

China had a $44.4 billion surplus on trade of goods in April, data from the online statement showed.

The value of China’s services trade is expected to grow rapidly and exceed $750 billion in 2016, the commerce ministry said on May 10.

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