Ser­vice trade deficit widens

China Daily (Hong Kong) - - BUSINESS -

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.

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