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China Dec services trade deficit US$18.6b vs US$15.6b in Nov

China's leaders are expected to target economic growth in a range of 6.5 per cent to 7 per cent this year, sources familiar with their thinking said, setting a range for the first time because policymakers are uncertain on the economy's prospects.

[BEIJING] China's trade deficit in services widened to US$18.6 billion in December from US$15.6 billion in November, the foreign exchange regulator said on Friday.

It did not release the figure for all of 2015.

A US$17.6 billion gap in spending between Chinese and foreign tourists has led to December's deficit.

A main factor for the deficit is that Chinese travelling overseas spent US$17.6 billion more than foreigners spent in China, a statement from the regulator said.

China had a US$50.4 billion surplus on trade of goods in December, according to the same statement.

Chinese Vice Premier Wang Yang said in late January that China's trade in services will expand and the total value should exceed US$1 trillion by 2020.