Service sector rebounds in December

%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20service%20sector%20continued%20to%20rebound%20in%20December%2C%20the%20China%20Federation%20of%20Logistics%20and%20Purchasing%20%28CFLP%29%20said%20on%20Monday.%3CBR%3EThe%20Purchasing%20Managers%27%20Index%20%28PMI%29%20for%20the%20non-manufacturing%20sector%20rose%20to%2056.5%20in%20December%2C%20compared%20with%20a%20nine-month%20low%20of%2053.2%20in%20November%2C%20the%20federation%20said%20on%20its%20website.%3CBR%3EThe%20PMI%20index%20provides%20a%20snapshot%20of%20conditions%20in%20the%20service%20sector%20and%20includes%20a%20package%20of%20sub-indexes%20to%20measure%20non-manufacturing%20activity.%20The%20level%20of%2050%20is%20the%20demarcation%20point%20for%20expansion%20from%20contraction.%3CBR%3EAccording%20to%20the%20CFLP%20report%2C%20the%20new%20orders%20sub-index%20rose%20to%2052.3%20in%20December%2C%20compared%20with%2050.1%20in%20November.%20The%20new%20export%20orders%20sub-index%20for%20December%20was%2053.6%2C%20up%20from%2050.3%20in%20the%20previous%20month.%3CBR%3EThe%20new%20orders%20sub-index%20for%20the%20real%20estate%20sector%20declined%20to%2045%20in%20December%2C%20indicating%20that%20the%20nation%27s%20fight%20against%20excessively%20rapid%20home%20price%20rises%20is%20working%2C%20analysts%20said.%3CBR%3EThe%20input%20cost%20sub-index%20eased%20to%2065.9%20from%2066.6%20in%20November.%20Analysts%20said%20it%20is%20a%20sign%20of%20easing%20inflation%2C%20although%20the%20sustainability%20of%20the%20trend%20remains%20to%20be%20seen.%3CBR%3E%22On%20one%20hand%2C%20the%20rebound%20%28in%20non-manufacturing%20PMI%29%20was%20caused%20by%20large%20investment%20in%20the%20service%20sector%2C%22%20said%20Li%20Xunlei%2C%20chief%20economist%20with%20Guotai%20Junan%20Securities.%20%22On%20the%20other%20hand%2C%20it%20was%20influenced%20by%20government%20policies%20encouraging%20the%20service%20sector.%22%3CBR%3EThe%20nation%20has%20vowed%20to%20support%20accelerated%20service-sector%20growth%20to%20make%20economic%20growth%20more%20consumption-driven%20instead%20of%20export-%20and%20investment-driven.%3CBR%3ELast%20month%2C%20at%20a%20seminar%20on%20drawing%20up%20the%20nation%27s%2012th%20Five-Year%20Plan%20%282011-2015%29%20Vice-Premier%20Li%20Keqiang%20said%20%22greater%20efforts%20should%20be%20made%20to%20strengthen%20the%20role%20of%20innovation%20in%20driving%20growth%2C%20quicken%20the%20upgrading%20of%20traditional%20industries%2C%20develop%20strategic%20emerging%20industries%20and%20push%20forward%20the%20service%20sector%20to%20accelerate%20the%20transformation%20of%20China%27s%20economic%20growth%20pattern%22.%3CBR%3EAt%20present%2C%20the%20service%20sector%20accounts%20for%20less%20than%2045%20percent%20of%20the%20Chinese%20economy%2C%20while%20accounting%20for%20more%20than%2070%20percent%20in%20the%20United%20States.%3CBR%3EOn%20Sunday%20China%20released%20its%20official%20manufacturing%20PMI%20figure%20for%20December%2C%20which%20was%2053.9%2C%20down%20from%2055.2%20in%20November%2C%20the%20first%20decline%20in%20five%20months.%3CBR%3EAnalysts%20attributed%20the%20weakening%20of%20the%20country%27s%20manufacturing%20activity%20in%20December%20to%20the%20government%27s%20tightening%20monetary%20policy%2C%20which%20aims%20to%20fight%20worsening%20inflation%2C%20and%20the%20closure%20of%20polluting%20and%20highly%20energy-intensive%20factories%20to%20meet%20the%20nation%27s%20energy%20efficiency%20targets.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%3C/FONT%3E%26nbsp%3B%3C/P%3E