China's Services Sector Growth Slows in April

According to a recent report released by S&P Global on Tuesday, the Caixin China Purchasing Managers Index (PMI) for the services sector slipped to 50.7 in April from 51.9 in March. This indicates a weaker pace of expansion, though the sector remains in growth territory above the neutral 50 mark.

Market Improvements Limited Amid Trade Row

Dr. Wang Zhe, a Senior Economist at Caixin Insight Group, highlighted that the ongoing China-US trade tensions have limited market improvements. He noted that the services sector experienced the slowest pace of new orders since December 2022, underscoring the challenges faced by the sector.