Service trade deficit widens
China’s service trade deficit expanded in June after a contraction in May, the State Administration of Foreign Exchange said on Monday. The deficit stood at 200.8 billion yuan ($29.5 billion) in June, up from 154.6 billion yuan in May, SAFE said. Income from trade in services was 124.2 billion yuan, while expenditure totaled 324.9 billion yuan. Trade in services refers to the sale and delivery of intangible products such as transport, tourism, telecommunications, construction, advertising, computing and accounting. China regularly registers a deficit in service trade as its service sector is less competitive than a number of economies. Africa. Under the partnership, Didi will invest in and cooperate with Taxify to support the latter’s further growth and innovation across its diversified markets. Launched in Estonia in 2013, Taxify is the fastestgrowing ride-hailing company in Europe and Africa, offering taxi and private car-hailing services to more than 2.5 million users across 18 countries. Cheng Wei, founder and CEO of Didi Chuxing, said the partnership will contribute to cross-regional smart transportation linkages between the Asian, European and African markets. work is underway and start production of cement is due to start next March. The factory is being constructed in Nepal’s South Western district of Nawalparasi and its mine site is located in the neighboring Palpa district. With an initial daily production capacity of 6,000 tons, the company plans to focus on the domestic market. research and development teams work on power train and infotainment tech.