The services sector accounts for nearly 43% of China's overall economy.

China's services sector expanded slightly in July, an HSBC survey showed, indicating that growth in the sector had steadied.

The HSBC non-manufacturing Purchasing Managers' Index (PMI) stood at 51.3, unchanged from June. A reading above 50 indicates an expansion.

The services sector accounts for nearly 43% of China's overall economy.

The data come amid concerns that China's economic growth rate may slow further in the coming months.

Read more... The world's second-largest economy has seen its pace of growth slow for two quarters in a row.