China's services activity expanded at a slower pace in November, pressured by easing new business growth, including in exports, a private sector survey showed, as the economy braces for a rocky ride of more U.

Manufacturers saw incoming new orders rise at its fastest pace in more than three years, signaling that stimulus efforts have already seeped into the economy.

Caixin/S&P Global services purchasing managers’ index aligned with the official gauge, which also showed China’s non-manufacturing activity weakened last month.