China SAFE: China November services trade deficit widens to $18.3 billion

The latest data from China’s FX regulator, the State Administration of Foreign Exchange (SAFE) showed that China’s trade deficit in services widened to $18.3 billion in November from $17.8 billion in October.

The widening deficit was mainly due to a $14.9 billion gulf in spending between foreign tourists and the Chinese, the SAFE said in a statement.

Meanwhile, 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, Reuters reports.