China's foreign service trade deficit widens in June

BEIJING - China's deficit in foreign service trading widened in June, according to data from the State Administration of Foreign Exchange released Wednesday.

Income from foreign services stood at $22.3 billion in June, while expenditure was $41.7 billion, resulting in a $19.4 billion deficit.

In May, the deficit was $18.3 billion.

Service trading refers to the sale and delivery of intangible products such as transport, tourism, telecommunications, advertising and accounting.

China's service trade volume grew from $362 billion in 2010 to $713 billion in 2015, double the average international growth rate. The country is aiming to lift its service trade volume to over $1 trillion by 2020.