China’s Services Activity Soars Amid Post-Covid Optimism, Caixin PMI Shows

Growth in activity across China’s services sector hit a 28-month high in March, with supply, demand and employment all improving further after the government lifted “zero-Covid” controls, a Caixin-sponsored survey showed Thursday.   

The Caixin China General Services Business Activity Index, which gives an independent snapshot of operating conditions in services industries such as retail and travel, soared to 57.8 in March — a high not seen since November 2020 — from 55 the previous month. A number above 50 indicates an expansion in activity, while a figure below signals a contraction.