China's service sector picks up steam in May

By：Xinhua Update：2020-06-22

BEIJING,June 16 (Xinhua) -- China's service industry, a sector hit hard by the COVID-19epidemic, is gradually back on track as the country steps up efforts to balanceepidemic control with economic and social development.

Theproduction index of the service sector climbed 1 percent year on year in May,marking the first year-on-year increase this year and rebounding from a declineof 4.5 percent in April, according to data provided by the National Bureau ofStatistics (NBS).

Thesub-reading for information transmission, software and information technologyservices expanded by 12.9 percent last month, while that for the financialsector and the real estate sector grew 5.2 percent and 7.1 percentrespectively, NBS data showed.

Meanwhile,wholesale and retail sales, hospitality and catering, leasing and businessservices, also improved in May, with their sub-index declines narrowing 4.5percentage points, 12 percentage points and 4.1 percentage points,respectively.

Theservice sector production index went down 7.7 percent year on year during thefirst five months, with the decline narrowing by 2.2 percentage points comparedto the January-April period.

Withthe continuous resumption of production and living orders, the service industryis expected to see further recovery, said N