FX.co ★ China Services Growth at Near 3-Year High

The RatingDog China General Services PMI jumped to 56.7 in February 2026 from 52.3 in January, marking the highest reading since May 2023. New orders expanded at their fastest pace since May 2024, supported by successful promotional campaigns and stronger client interest. Foreign demand also recorded its sharpest increase in a year, driven by increased tourism activity.

Backlogs of work continued to build, with outstanding business rising further, even though the growth rate was broadly in line with that of the previous two months. At the same time, service providers cut staffing levels after a slight increase in headcount at the start of the year.

On the inflation front, cost pressures intensified as average input prices rose at a faster pace, reflecting higher wage and energy costs. Output charges increased for the first time in three months. While the rise in selling prices was modest, the rate of output price inflation was the highest since May.

Looking ahead, business confidence remained strong, underpinned by expectations of better market conditions and planned business expansion.