Caixin reports China services PMI at 50.1 in January

The Chinese economic media Caixin announced on the 5th that the China Services Purchasing Managers' Index (PMI) for January was 51.0, down 1.2 points from December.
The index was also the lowest, but it was still above the 50 mark, which is the dividing line between economic expansion and contraction. Prior to this, Caixin announced that China's manufacturing PMI for January had fallen 0.4 points from the previous month.
The index was 50.1, also the lowest in the past four months. As the economic performance of both industries slowed slightly, the composite PMI for the month fell 0.3 points to 51.1.
Data recently released by the National Bureau of Statistics also showed that the services sector PMI for January was 50.3, down 1.7 points from December.
Looking at the Caixin services PMI by item, the new orders index was above 50 but down from the previous month. The new export orders index, which had temporarily contracted in December,
The expansion has returned. Business surveys show growing foreign interest in China's service sector, including tourism, and the volume of new export business has increased.
In addition, the employment index for January was at its lowest level since May 2024. The business expectations index improved slightly, indicating that service industry companies are looking forward to
While the outlook was optimistic, some companies expressed concerns about intensifying international competition and the uncertainty of the future of trade.