The Caixin China General Services Business Activity Index (PMI) for October, released on November 4, was 56.8, an increase of 2 percentage points from September, and has been in the expansion for six consecutive months. The domestic service sector is recovering from the decline at the beginning of the year caused by the COVID-19 epidemic and showing a sustained recovery. The Caixin China Manufacturing Purchasing Managers' Index released earlier rose 0.6 percentage points from September to 53.6 in October. The Caixin Composite PMI rose 1.2 percentage points to 55.7 in October, the highest growth rate since December 2010 and the same as in June 2020. The service PMI and composite PMI is consistent with the National Bureau of Statistics. The October service business activity index released by NBS rose 0.3 percentage points to 55.5, while the composite PMI rose 0.2 percentage points to 55.3. Growth in new orders for services accelerated sharply in October, with the index of new orders rising to its third highest level since September 2010. According to the survey sample enterprises, the order growth is related to the continuous recovery of customer demand and the launch of new products. However, new orders from overseas fell for four consecutive months. Reports shows that export sales were hit by a rebound in the epidemic in several export markets. Wang Zhe, senior economist at Caixin Think Tank, said that in October, both supply and demand in the manufacturing and service sectors were booming, and relevant indexes were at their highest levels in recent years. Indicators such as orders, purchases and inventories showed strong performance, and entrepreneurs were fully confident about the economic outlook in the coming year. Employment in manufacturing and services has been steadily improving as market sentiment has picked up.