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Growth of China's services sector slows

Businesses in China's services industries grew at a slower rate in April than in March, according to HSBC's purchasing managers' index and highlighting the government's challenge to rebalance the slowing economy away from credit fuelled investment and towards consumption.

The PMI slipped to a reading of 51.4 in April, from 51.9 in March.

In the survey, any score above 50 indicates expansion.

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