China's service sector activity grew in February

China’s services sector grew strongly in February, driven by demand recovery following the lifting of COVID-19 measures. The services sector purchasing managers’ index (Services PMI) compiled by Caixin/S&P Global rose to 55 points in February from 52.9 points in January. Service companies reported the strongest increase in new activity since April 2021 in February, while growth in new export orders accelerated to the highest level in four years. The Caixin/S&P Global composite PMI also rose to 54.2 points from 51.1 points in February, the fastest increase since June