December 27, 2017 / 7:46 AM / 4 months ago

China November services trade deficit widens to $18.3 billion: FX regulator

BEIJING (Reuters) - China’s trade deficit in services widened to $18.3 billion in November from $17.8 billion in October, the foreign exchange regulator said on Wednesday.

FILE PHOTO: Containers are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China, February 13, 2017. REUTERS/Aly Song/File Photo

The deficit was largely due to a $14.9 billion gulf in spending between foreign tourists and the Chinese, who splurge more abroad than do visitors to China, data from the State Administration of Foreign Exchange (SAFE) showed.

For the January-November period, China’s services trade deficit stood at $234.8 billion, versus a gap of $216.5 billion for January-October.

Reporting by Beijing Monitoring Desk; Editing by Sam Holmes

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