China Services Activity Starts Growing Again, Caixin PMI Shows

Services activity in China bounced back into expansionary territory in January, as both supply and demand picked up after the country took a U-turn on its “zero-Covid” policy, a Caixin-sponsored survey showed Friday.

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in services industries such as retail and travel, surged to 52.9 in January from 48 the previous month. A number above 50 indicates an expansion in activity, while a figure below signals a contraction.