China’s Services Industry Growth Accelerates, Caixin PMI Shows

Activity in China’s services sector expanded at a faster pace in December as total new business orders continued to grow, a Caixin-sponsored survey showed.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in the sector, rose to 53.1 from 52.1 the previous month, according to the survey report released Thursday. A number above 50 indicates an expansion in activity, while a figure below that points to a contraction.