China's services deficit widens to $260bn on tourism spending
China's services trade deficit in 2016 increased to $260.1bn from $206.5bn in 2015, largely due to tourists spending $24.2bn less in China than Chinese tourists did abroad. The month-on-month deficit also widened from $25.4bn in November to $26.1bn in December.
China services trade deficit widens as tourists splurge

Chinese tourists carrying shopping bags walk through Ginza district in Tokyo on Sunday. (Bloomberg photo)

BEIJING - China's trade deficit in services widened to US$260.1 billion last year, from $206.5 billion in 2015, the foreign exchange regulator said on Thursday.

The December deficit also widened month-on-month to $26.1 billion, from $25.4 billion in November.

December's deficit was largely due to a $24.2 billion gulf in spending between foreign tourists and the Chinese, who splurge more abroad than foreign tourists in China, data from the State Administration of Foreign Exchange showed.