Sun, Aug 04, 2013 - Page 13 News List

China stabilizes as services pick up

UNEXPECTED EXPANSION:China could meet its GDP expansion target for this year after a manufacturing gauge showed more than a 50 percent jump from June to July


Service industries accounted for about 45 percent of GDP last year, according to statistics bureau data, up from 41 percent in 2003. The government is seeking to increase the share to 47 percent by 2015, according to its five-year plan. In the US, services comprise about 90 percent of the economy.

The official non-manufacturing survey is based on responses from purchasing managers at 1,200 companies in 27 industry groups including catering, retailing, construction and transportation.

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