China's Services Trade Deficit Widens In July

China's trade deficit in services widened in July, the State Administration of Foreign Exchange said Monday.

The deficit on trade in services increased to $17.6 billion in July from $14.9 billion in June. At the same time, the merchandise trade showed a surplus of $46 billion in July.

For the first seven months of 2015, the services trade shortfall totaled $109.2 billion.

China had devalued its currency early this month to cushion exports, which declined sharply in July. The devaluation was termed as a one-time adjustment.

by RTTNews Staff Writer

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