China's service sector continued to
expand in December 2016, as a private survey showed Thursday that an
index for the sector posted its strongest rate in 17 months.
The Caixin General Services Purchasing Managers' Index (PMI) edged up to 53.4 last month from 53.1 in November 2016, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co. Ltd.
The previous high was 53.8 in July 2015. A reading above 50 indicates expansion, while a reading below 50 represents contraction.