China Caixin service PMI dips

BEIJING - China's service sector growth cooled slightly in July, but remained in expansionary territory, a private survey showed Thursday.

The Caixin General Services Purchasing Managers' Index (PMI) fell to 51.5 in July from June's 51.6, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co Ltd.

A reading above 50 indicates expansion, while a reading below 50 represents contraction.