(Yicai Global) Dec. 4 -- Caixin's purchasing managers' index for China's general services sector rose by 2.4 points to 53.5 in November, reaching a highest level since May this year as the sector accelerates its expansion.
The index, published by Chinese financial media outlet Caixin, followed a rise in the Caixin manufacturing PMI, which rose 0.1 point to 51.8 last month. The Caixin composite PMI climbed 1.2 points to 53.2, hitting a new high since March 2018.
China has two main PMIs. The official index, run by the National Bureau of Statistics, tracks 3,000 companies of which many are large and state-backed. The Caixin PMI, also known as the Caixin-Markit PMI, surveys 500 businesses that are typically smaller and privately owned.