China December services trade deficit at $18.6 billion vs $15.6 billion in November

BEIJING: China's trade deficit in services widened to $18.6 billion in December from $15.6 billion in November, the foreign exchange regulator said on Friday.

It did not release the figure for all of 2015.

A $17.6 billion gap in spending between Chinese and foreign tourists has led to December's deficit.

A main factor for the deficit is that Chinese travelling overseas spent $17.6 billion more than foreigners spent in China, a statement from the regulator said.

China had a $50.4 billion surplus on trade of goods in December, according to the same statement.

Chinese Vice Premier Wang Yang said in late January that China's trade in services will expand and the total value should exceed $1 trillion by 2020.