In March, the Chinese service PMI recorded 52.1, staying in the expansion zone for the 39th consecutive month.

In March, the RatingDog China Service PMI reached 52.1, marking the 39th consecutive month in expansion territory. Service sector activities continued to expand in March, although the momentum weakened compared to February. Domestic demand remains the main stabilizer of growth, while there have been fluctuations in external demand. It is worth noting that moderate cost pressures allow companies to stimulate demand by lowering prices, which could have a positive impact on stabilizing the end market. However, the continued contraction of the job market suggests that internal adjustments within the industry are still ongoing. In general, the foundation for the expansion of the service industry still exists, and it is expected that the PMI will continue to remain above the boom-bust line.