China's service economy expansion accelerated in May as greater new business inflows spurred faster services activity growth. New export business also increased at the fastest pace in a year. In turn, service providers expanded their staffing levels, which supported the clearance of backlogged orders. Price pressures intensified, however, with firms raising their charges amid rising cost burdens. Confidence levels also eased to a sevenmonth low amid concerns about the global economic environment and rising prices. The seasonally adjusted headline Caixin China General Services Business Activity Index climbed to 54.0 ... (full story)