The rebound of activity in China services sector extended to the fifth straight month into August, showed a survey of industry participants on Friday. Pace of hiring strengthened for the second straight month.

The corresponding PMI from Markit/Caixin rose from 54.0 to 54.8 in August and remained well above the neutral 50 points. The value of the indicator below 50 points signals about slowdown in the sector, while the reading above 50 points means more than a half of respondents believe that activity in the sector rose compared to the previous month.

Firms increased demand for labour for the second straight month, albeit at a modest pace, what indicates that labour market recovery is sustainable.It was hit by a sharp drop in demand and restrictions due to pandemic earlier in the year.

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