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China's services sector grows at fastest pace in over a year
China's services industry picked up serious momentum in August 2025, hitting its fastest growth since May last year.
The main PMI jumped to 53.0 from July's 52.6, thanks to more people spending at home and a boost from overseas orders.
Even the official PMI ticked up slightly, indicating that the sector is still facing challenges like China's ongoing property slump.
Rising costs force companies to cut staff
Most of this surge came from fresh business opportunities and better market vibes, with new orders growing at their quickest pace since May 2024.
Still, rising costs forced many companies to cut staff and trim profits to stay competitive.
As Yao Yu from RatingDog put it, keeping demand strong at home will be key for a real comeback.