SERVICE SECTOR OF CHINA BOUNCES BACK POST CORONAVIRUS CRISES

Highlights:

• Since January, the service sector of China has bounced back for the first time as the economy is towards recovery post-coronavirus crises.
• In May, the Caixin/Markit services Purchasing Managers’ Index surge to 55.0 as compared to 44.4 in April.
• The service sector of China is the major generator of jobs which accounts for more than 60% of the economy.