China October services trade deficit $20.9 billion: forex regulator

A worker stands in front of containers at a port in Shanghai

BEIJING (Reuters) – China’s trade deficit in services narrowed to $20.9 billion in October from $23.3 billion in September, the foreign exchange regulator said on Monday.

October’s deficit was largely due to a $20.2 billion gulf between foreign tourists and the Chinese, who splurge more abroad than foreign travelers in China, data from the State Administration of Foreign Exchange (SAFE) showed.

In the January-October period, the trade deficit in services was $208.6 billion.

(Reporting by Beijing Monitoring Desk; Editing by Sunil Nair)