Chinas service trade deficit rises in November
Chinas service trade deficit rose in November after two months of declines, the State Administration of Foreign Exchange (SAFE) said Wednesday.
The deficit stood at 120.8 billion yuan (about 18.4 billion U.S. dollars) last month, up from 117.5 billion yuan in October, the SAFE data showed.
Trade in services refers to the sale and delivery of intangible products such as transportation, tourism, telecommunications, construction, advertising, computing and accounting.
The government has channeled more energy into improving the service sector, including measures to gradually open up the finance, education, culture and medical industries.