China in­tro­duces ser­vices in­dex

China Daily (Canada) - - BUSINESS -

China in­tro­duced a newindi­ca­tor for the ser­vices sec­tor, to bet­ter track the vast range of ac­tiv­i­ties from movies to restau­rants, that now ac­counts for more than half of the econ­omy. The ser­vices out­put in­dex rose 8.2 per­cent in Jan­uary and Fe­bru­ary from a year ear­lier on growth in tech­nol­ogy, trans­porta­tion, and de­liv­er­ies, theNa­tional Bureau of the Sta­tis­tics said on Tues­day in the first re­lease of the in­dex. It plans to up­date the mea­sure each month. The NBS said the in­dex tracks the out­put of ser­vices, also known as the ter­tiary sec­tor, without de­duct­ing the in­put costs, which means it’s dif­fer­ent to a quar­terly re­port re­leased with the gov­ern­ment’s data on gross do­mes­tic prod­uct. re­pur­chase agree­ment, is the sale of se­cu­ri­ties to banks tied to an agree­ment to pur­chase the se­cu­ri­ties back in the fu­ture. A re­verse repo is the pur­chase of a se­cu­rity to be sold back later. more than off­set by growth in its in­jecta­bles and branded busi­ness. Hikma also said it ex­pects prof­itabil­ity of its gener­ics busi­ness to sig­nif­i­cantly im­prove in 2017, driven by new­prod­uct launches and an en­hanced mix of sales. The com­pany, which makes and mar­kets branded and non­branded generic and in­jectable drugs, main­tained its ex­pec­ta­tion of $800 mil­lion in rev­enue from the gener­ics busi­ness.

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