China recorded a $20.7 billion service trade deficit in January, up from $18.6 billion in December, according to data released by the State Administration of Foreign Exchange on Monday, Nasdaq reported. China’s merchandise trade surplus stood at $55.7 billion in January, compared with a surplus of $50.4 billion in December, said the regulator. In January, China logged a service and merchandise trade surplus of $35 billion. Meanwhile, exports fell 11.2% year-on-year in dollar terms, compared with forecasts for a decrease of 3.6%, while imports slid 18.8%, against expectations of a 1.8% fall, according to government data released on Monday.
