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Service trade deficit up in August

China continued to see a deficit in foreign service trade in August with the volume growing, data from the State Administration of Foreign Exchange showed on Wednesday. The deficit stood at $29 billion in August, up from $25.3 billion in July, the SAFE said. Income from trade in services stood at $18.4 billion last month, while expenditures was $47.4 billion. In contrast to merchandise trade, trade in services refers to the sale and delivery of intangible products such as transportation, tourism, telecommunications, construction, advertising, computing and accounting.

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