China Services PMI Falters at Six-Month Low Amid Dip in Export Business

China’s services sector faced a setback with a slight decline in the RatingDog China services purchasing managers’ index (PMI) to 52 in December, marking its weakest growth in half a year. The slowdown, observed for a fourth consecutive month, is attributed to a drop in new export business, notably affected by a decline in tourist arrivals, especially from Japan, per RatingDog founder Yao Yu. This drop is primarily linked to decreased tourist inflows amid escalating tensions between Tokyo and Beijing, sparked by Japanese Prime Minister Sanae Takaichi’s comments on Taiwan. Despite President Xi Jinping’s optimistic declaration that China is on…