China's Caixin services PMI eased marginally to 54.1 in June 2026 from 54.4 in May, remaining near three-year highs, according to data reported by Finnhub on 3 July 2026. Export orders expanded at their fastest pace since October 2024, marking a 20-month high. Firms raised output prices for the first time in four months, and employment rose for the first time since 2024. Bloomberg Markets separately reported that the services reading beat economist forecasts despite the month-on-month decline, describing the result as evidence of resilience in the world's second-largest economy.
The offshore Chinese renminbi (CNH) is directly affected as a primary currency through which services-sector trade flows and cross-border payments are settled, while the CSI 300 and Hang Seng Index track the equities of Chinese firms whose revenues are sensitive to domestic services activity and export order momentum.
The acceleration in export orders coincided with the first employment gain in the services sector since 2024, adding a labour-market dimension to the June reading. Firms' decision to raise prices for the first time in four months indicates a partial recovery in pricing power within the services industry, a segment that has faced deflationary pressure over recent quarters.
Sources: Finnhub, Bloomberg Markets