marketwatch). This is the best number in 2015 (chart below tradingeconomics). The barometer covers services including retail, aviation and software as well as the real-estate and construction sectors. Numbers above 50 mean growth and this rise shows that China´s service growth is accelerating.
In December we also learned that the Chinese retail sales grew 11.2 % in November after 11.0% in October (bloomberg reuters).
This was the fourth acceleration back-to-back and the best retail number
for this year. Since April the retail sales have been trending stronger. I suppose that the service sector benefits from swiftly climbing wages (tradingeconomics) and the advance of the Internet in China, especially from the rapidly growing e-commerce. There also are tailwinds from cheaper oil & other commodities. Consumers have more money to spend and companies less costs.
The accelerating services show that China´s economy is right on track.
The country is transforming from an industrial & export-focused
economy to a modern system like the US, where most of the GNP is fueled
by consumer spending. In the US consumer spending is the engine of the
economy. China, which still depends too much on exports & industrial
production, is on the way to became a modern economy.
PS For illustration I choose the image of the model Sun Fei Frei from the cover of Vogue China that I found @ Google Image. I think that Sun Fei Frei represents the China of the 21st century.