CHINA’S trade deficit in services narrowed to US$19.1 billion in May from US$20.3 billion in April, the foreign exchange regulator said yesterday.

    May’s deficit was largely due to a US$16.5 billion gap in spending between Chinese who spent more abroad than foreign tourists in China, data from the State Administration of Foreign Exchange (SAFE) showed.

    China had a US$48.1 billion surplus on trade of goods in May, data from the online statement showed.

    The value of China’s services trade is expected to grow rapidly and exceed US$750 billion in 2016, the commerce ministry said last month.

    (SD-Agencies)