BEIJING Devin Funchess Youth Jersey , July 31 (Xinhua) -- China's service trade deficit expanded in June after a contraction in May, the State Administration of Foreign Exchange (SAFE) said Monday.
The deficit stood at 200.8 billion yuan (about 29.5 billion U.S. dollars) 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.
The government has channeled more energy into the sector and rolled out measures to improve it, including gradually opening up the finance, education, culture and medical sectors.
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ISTANBUL， Jan. 19 (Xinhua) -- The Turkish government's recent move to grant citizenship to foreigners who invest and buy properties in Turkey would not go far in terms of reviving the ailing economy， analysts said.
"A step taken， so to speak， in panic to encourage the inflow of foreign currency is not a step to be taken seriously，" Aziz Konukman， a professor of economics with Gazi University in Ankara， told Xinhua.
According to a government decree that went into effect last week， Turkey will confer citizenship to foreigners who buy properties worth at least 1 million U.S. dollars on condition that they do not sell them in three years.
Foreigners investing a minimum of 2 million dollars or depositing at least 3 million dollars in a Turkish bank for more than three years will also be entitled to become Turkish citizens.
"The government feels so much in trouble (financially) that it sees such a step as a sort of lifeline for the economy， but you can't produce a lasting solution in this manner，" argued Konukman.
Turkey needs to pay as much as almost 165 billion dollars in foreign loans this year. Additionally， it must also get from international lenders around 32 billion dollars to make up for the current account deficit estimated for 2017.
"Paying loans as high as 200 billion dollars， that's the question，" stressed Konukman， adding that a huge economic crisis may ensue should Turkey fail to find enough money from international lenders to pay off its debt.
The Turkish Central Bank has a net reserve of 34.7 billion dollars， including reserves in gold， Faik Oztrak， a deputy from the main opposition Republican People's Party (CHP)， said in parliament last weekend.
He then added， "This means Turkey can only make do (with the money in reserve) for two months if no money is found from outside."
Alarm bells have been ringing louder for the economy since the end of September when the Turkish lira began to plummet in value against the dollar. The lira has depreciated by around. Cheap Jerseys Cheap Jerseys From China Cheap Wholesale Jerseys Cheap Jerseys China Wholesale Cheap Jerseys Wholesale Cheap Jerseys Cheap Custom Jerseys Cheap MLB Jerseys China Cheap Authentic NFL Jerseys Cheap Jerseys China Free Shipping
