China's service sector expanded at the slowest pace in four months in January as the government's tightening policies took effect, according to a closely watched survey.
The HSBC-Markit business activity index fell to 52.0 from 53.1 in December, the third lowest score recorded in the survey's five-year history. Anything above 50 indicates expansion.
New business received by Chinese service providers eased for the fifth successive month in January to a 25-month low. Respondents linked the slower increase in new orders to relatively lacklustre client demand.
Meanwhile, China's composite purchasing managers' index, combining both manufacturing and services, fell to 54.6 in January from 55.2 in the previous month.
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