China’s services trade deficit shrinks in August

China has recorded a narrowing deficit in its services trade in August.

The State Administration of Foreign Exchange data indicated on Friday that services exports reached 222.7 billion yuan (about 31.37 billion dollars) in August.

The data further indicated that services imports amounted to 278.5 billion yuan, resulting in a trade deficit of 55.8 billion yuan, down from July’s 60.4 billion yuan.

The data showed that transportation services stood out as the biggest services trade contributor with 190.5 billion yuan in trade volume.

It also showed that the country’s goods and services trade was close to 4.03 trillion yuan in August, which is a 9 per cent increment from 2021. (Xinhua/NAN)