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Thursday, October 12, 2017, 20:34
China sees bigger service trade deficit
By Xinhua
Thursday, October 12, 2017, 20:34 By Xinhua

In this Sept 10, 2016 photo, a crane lifts a container from the Hanjin Greece container ship as unloading begins at the Port of Long Beach in California. According to the Chinese Ministry of Commerce, China's service imports continued to substantially outvalue exports in the first eight months due to increasing domestic demand. (DAVID MCNEW / AFP)

BEIJING – China's service imports continued to substantially outvalue exports in the first eight months due to increasing domestic demand.

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The value of service imports gained 12.2 percent year on year to 2.13 trillion yuan (more than US$320 billion) in the January-August period, while exports only increased 4.4 percent to 926.69 billion yuan, resulting in a 1.2-trillion-yuan deficit, the Ministry of Commerce said Thursday in a statement.

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The gap, nearly 20 percent more than the same period a year earlier, was attributed to strong demand for service imports in tourism, transportation and other traditional sectors.

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