Service sector index hits high in positive sign

Figure best in 14 months, called promising, not only for China but for world economy

Activity in China's service sector, measured by a private purchasing managers index for the service sector, rose to a 14-month high in March, indicating that government stimulus policies are gradually taking effect.

Analysts said emerging signs of Chinese economic stabilization mean the world's second-largest economy is expected to play an important role in helping anchor the world economy, which, as IMF Managing Director Christine Lagarde cautioned, is at a "delicate moment".