In May, the PMI of Caixin's service industry rose to 57.1, the second highest since December 2020.

Caixin China's service industry PMI rose to 57.1 in May, the second highest since December 2020. The Caixin China General Service Business activity Index (PMI) released today recorded 57.1, up 0.7 percent from April, the second highest since December 2020 and only lower than March 2023. In May, Caixin China's composite PMI rose 2.0 percent to 55.6, the highest level since 2021, indicating the accelerated expansion of production and business activities of Chinese enterprises.