Service sector flourishes in splendid isolation

A robust services sector has been the key for China's better-than-expected economic performance in the first half, despite the slowdown in the industrial sector, a sector-wise breakdown of GDP data has shown.

The tertiary industry (mainly service) expanded 8.4 percent in the first half, up from 7.9 percent in the first quarter and in comparison with the 6.1 percent growth in the secondary industry, according to the National Bureau of Statistics.

The bull run before mid-June in the equity market brought huge benefits for the financial sector. In Shanghai, added value from the sector soared by 30.1 percent over a year earlier, while the added value from the tertiary industry accounts for 67.1 percent of Shanghai's GDP. In Beijing, the finance, information and technology service industries contributed more than 70 percent to GDP growth in the first half of the year.