China’s Services Sector Is on the Rise, Achieving Its 15th Consecutive Month of Growth
[For Hong Kong Investor Only] Driven by both robust exports and domestic demand, this positive trend is instilling a sense of optimism in the market. In March, the Caixin China General Services PMI soared to 52.7, signalling a strong expansion in the sector. Furthermore, price pressures have eased, enabling service providers to adjust their prices at a more moderate pace. Business sentiment remains positive, with an improvement in expectations for the future.
Despite persistent challenges such as employment and low input-output prices, China's economic performance has exceeded expectations. The concerted efforts to solidify the recovery and achieve the goal of "around 5%" economic growth this year will persist. The focus will be on enhancing the quality and efficiency of economic development.
The resilient growth observed in the services sector is a testament to China's immense potential. It reflects the adaptability and strength of the country's economy.
Source: Caixin, Apr 03, 2024.
Learn more about the Global X China Consumer Brand ETF (2806) $GX中国消费(02806)$ and its risk factors: https://www.globalxetfs.com.hk/campaign/china-consumer-brand-etf/
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Modify on 2024-04-09 11:05
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