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China's foreign service trade deficit widens in June

Xinhua, July 27, 2016 Adjust font size:

China's deficit in foreign service trading widened in June, according to data from the State Administration of Foreign Exchange released Wednesday.

Income from foreign services stood at 22.3 billion U.S. dollars in June, while expenditure was 41.7 billion U.S. dollars, resulting in a 19.4 billion U.S. dollar deficit.

In May, the deficit was 18.3 billion U.S. dollars.

Service trading refers to the sale and delivery of intangible products such as transport, tourism, telecommunications, advertising and accounting.

China's service trade volume grew from 362 billion U.S.dollars in 2010 to 713 billion U.S. dollars in 2015, double the average international growth rate. The country is aiming to lift its service trade volume to over one trillion U.S. dollars by 2020. Endi