China's service trade deficit shrinks further

Xinhua
China's service trade deficit shrank for the second consecutive month in April.
Xinhua

China's service trade deficit shrank for the second consecutive month in April, data from the State Administration of Foreign Exchange showed on Thursday.

The deficit stood at US$24.1 billion last month, down from US$26.2 billion in March.

Income from trade in services was about US$19.2 billion dollars, while expenditures totaled US$43.3 billion.

Service trade refers to the sale and delivery of intangible products such as transportation, tourism, telecommunications, construction, advertising, computing and accounting.

The country has taken steps to improve the development of service trade, including gradually opening up the finance, education, culture, and medical treatment sectors.

Last month, the country registered a surplus of US$29.4 billion in the trade of goods.

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