Service sector offsets weak factory output

HSBC data prompt economists to urge more policy easing

Steady growth in China's service industry looks to have helped counter the weakening in manufacturing activity during 2014, increasing policy makers' confidence to accelerate structural reforms this year, analysts said.

The country's average official manufacturing Purchasing Managers Index was 50.7 last year, which illustrates the sector's near-stagnation; but in comparison, the average services PMI reached 54.4, supported by fast expansion of new business and stronger employment levels.