China's services trade deficit narrows to US$20.3b in April: FX regulator

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

April's gap was largely led by a US$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 US$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 US$750 billion in 2016, the commerce ministry said on May 10.

REUTERS