Now for an update on the Chinese economy. Fresh data from the National Bureau of Statistics shows that China's manufacturing activities dipped slightly in December to 51.6. However, the sector still stands above the 50 point level that separates growth from contraction. Ming tian has the details.

The official Purchasing Managers' Index released Sunday showed that growth in China's manufacturing sector slowed slightly to 51.6 in December, down 0.2 from the previous month. That was due to a cooling real estate market and a government crackdown on air pollution. A look at the data released Sunday shows that a dip in production and new orders dragged down the overall reading. The production index and total new orders fell 0.3 and 0.2 respectively in December from November. By comparison, exports grew at their fastest pace in six months, pointing to sustained strength in global demand and rising business optimism.

ZHAO QINGHE, SR. STATISTICIAN NATIONAL BUREAU OF STATISTICS The manufacturing sector maintained steady growth throughout 2017. We achieved an annualised PMI of 51.6, higher than 2016. That indicates factory activities are slowly picking up pace.

However, rising costs are starting to weigh on producers. December saw input prices climb to 62.2 from 59.8 in November. That could squeeze profit margins of companies down the supply chain.

Meanwhile, growth in China's service sector remains robust. The non-manufacturing PMI rose 0.2 to 55 in December, the highest in the past three months. Service sector has become the major booster of china's economy. The central government is counting on growth in services and consumption to rebalance the economic growth model from its heavy reliance on investment and exports.