China's services PMI fell to 50.4 in July from 54.1 in June, marking the slowest expansion since January 2024 while remaining above the 50 threshold for the 43rd consecutive month, showed the RatingDog China General Services PMI released on August 5. The composite PMI dropped to 50.8 from 53.6, with the slowdown driven mainly by a sharp deceleration in services output growth. New export business remained resilient, employment continued to expand and cost pressures eased, suggesting services and overall economic activity are expected to stay in expansion territory.