Growth in China's July services activity speeds up, but risks loom

China Sinovac vaccine. Since the eastern city of Nanjing confirmed its first Delta cases on July 20, numerous cities in southern China and a few in the north including Beijing, have reported infections. The tally of locally transmitted cases stood at 414 as of Monday.

BEIJING: Growth in China's services sector accelerated in July, a private survey showed on Wednesday, although the spread of the COVID-19 Delta variant across the country threatens to undercut the recovery in the world's second-biggest economy.

The Caixin/Markit services Purchasing Managers' Index (PMI)rose to 54.9 in July, the highest since May and up from 50.3 the previous month. The 50-point mark separates growth from contraction on a monthly basis.