China's service trade deficit shrinks further

BEIJING - China's service trade deficit shrank for the second consecutive month in April, data from the State Administration of Foreign Exchange (SAFE) showed Thursday.

The deficit stood at $24.1 billion last month, down from $26.2 billion in March.

Income from trade in services was about $19.2 billion, while expenditures totaled $43.3 billion.

Service trade refers to the sale and delivery of intangible products such as transportation, tourism, telecommunications, construction, advertising, computing and accounting.

The country has taken steps to improve the development of service trade, including gradually opening up the finance, education, culture, and medical treatment sectors.

Last month, the country registered a surplus of $29.4 billion in the trade of goods.