BEIJING, March 27 (Reuters) – China’s trade deficit in services widened to $27.3 billion in February from $21.8 billion in January, the foreign exchange regulator said on Tuesday.
The deficit was largely due to a $24 billion gulf in tourist spending, data from the State Administration of Foreign Exchange (SAFE) showed. When Chinese go abroad, they splurge more than do foreign visitors travelling in China.
This year, the week-long Lunar New Year holidays fell in February.
For the January-February period, China’s services trade deficit stood at $49.1 billion.
(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)
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