The Caixin/S&P Global services purchasing managers' index (PMI) rose to 52.9 in January from 48.0 in December, above the 50-point mark which indicates expansion in activity, marking an end to a four-month contraction. The reading mirrored the results of a larger official services PMI published earlier this week, adding to evidence of a rebound in activity in the world's second-largest economy as disruptions from reopening fade. "Improving expectations, restoring confidence, increasing income, expanding consumption, and stimulating domestic demand will be among the priorities," Wang said. Caixin/S&P's composite PMI, which includes both manufacturing and services activity, rose to 51.1 in January from 48.3 the previous month, marking the first expansion in five months. The Caixin PMI is compiled by S&P Global based on responses to questions sent to purchasing managers in China.

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