China’s Services Sector Accounted for 66.1% of H1 Economic Growth, NDRC Says

The shift toward services as the dominant growth engine matters because it signals a rebalancing away from the industrial and property-led model that has driven Chinese expansion for decades. The NDRC's framing, tying the sector's strength to policy expectations, market confidence and consumer resilience, is itself notable: it presents services as the channel through which domestic demand and openness are being tested. The open question is whether the business activity expectation index's run above 55 can hold once base effects and policy support fade.