Non-manufacturing PMI rebounds

China's non-manufacturing industry has continued an upward trend in April. According to the National Bureau of Statistics and the China Federation of Logistics and Purchasing, the purchasing managers' index for China's non-manufacturing sector rebounded to 54.8 percent in April, gaining 0.3 percentage points from a month earlier.

The index of new orders was holding and business outlook remained high. A PMI reading above 50 percent indicates industry expansion, while a reading below 50 percent reflects contraction. Analysts say the rebound of the service sector and market demand is the main impetuses.

"In view of the sectors, activities in the productive service sector, especially the logistics industry are active. And the PMI data released on Thursday shows large purchases by companies. So from the aspects of China's economy, production and business, the market is active." said Cai Jin, Vice Chairman, China Federation of Logistics & Purchasing.