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China builds up $4.6b fund to boost service trade industry

| Updated: January 09, 2018 16:05:50


A container is carried away from a cargo ship at Tianjin Port, in northern China February 23, 2017. - Reuters file photo A container is carried away from a cargo ship at Tianjin Port, in northern China February 23, 2017. - Reuters file photo

China has launched a 30 billion yuan ($4.63 billion) investment fund to boost the services trade industry, in an effort to further improve the country’s foreign trade structure, the official Xinhua News Agency said on Monday.

The fund was jointly set up by the Ministry of Finance, Ministry of Commerce, and China Merchants Capital Investment, it said.

Latest government data showed China’s services trade deficit for the January-November period last year stood at $234.8 billion.

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