Service sector expansion reflects restructuring
By Wang Yanfei | China Daily | Updated: 2016-07-06 07:29
China's expanded business activity in the service sector in June shows the effect of restructuring as the economy moves away from reliance on manufacturing.
The Purchasing Managers' Index for the service sector rose to an 11-month high of 52.7 in June, up from 51.2 in May, according to a survey conducted by Caixin Media Co and Markit, a financial information service provider.
A reading above 50 indicates expansion, while a reading below 50 means contraction.
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