Reported 20 days ago
A recent private survey revealed that China's service activity has expanded at its fastest rate since July, driven by stimulus measures aimed at boosting economic growth. The Caixin services purchasing managers' index rose significantly from 50.3 to 52 in October, surpassing economist forecasts. Optimism in the sector indicates a potential recovery in consumer demand, supported by Beijing's initiatives, including interest-rate cuts and a major subsidy program. Policymakers express confidence in achieving economic stability, with markets reacting positively to the latest developments.
Source: YAHOO