November 27, 2017 / 7:41 AM / 2 years ago

China October services trade deficit narrows to $17.8 billion - FX regulator

FILE PHOTO: Container boxes are seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song/File Photo

BEIJING (Reuters) - China’s trade deficit in services narrowed to $17.8 billion in October from $22.2 billion in September, the foreign exchange regulator said on Monday.

The deficit was largely due to a $15.3 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-October period, China’s services trade deficit stood at $216.5 billion, versus a gap of $198.7 billion for January-September.

Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam

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