China service trade deficit expands in August

BEIJING - China recorded a bigger deficit in foreign service trade in August, the latest data from the State Administration of Foreign Exchange (SAFE) showed.

The country's service trade deficit amounted to 129.3 billion yuan ($21 billion) in August, compared with 94.2 billion yuan in July, according to the SAFE.

In August, the country spent a total of 213.9 billion yuan in international service trade, more than double the 84.6 billion yuan it made in the month.

In the first eight months, the aggregate service trade deficit totaled 585 billion yuan, with 893 billion yuan in revenues and 1.478 trillion yuan in spending.

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