China's State Council has released a set of measures in a circular to promote the high-quality and efficient development of the service industry, better leveraging its role in supporting industrial upgrading, meeting people's livelihood needs, and driving employment expansion.
According to the circular made public on April 21, the service sector will make significant progress in its high-quality development by 2030, with the total scale expected to reach 100 trillion yuan ($14.58 trillion).
The document proposes to address weaknesses in the productive service sector throughout the entire chain by strengthening the supporting role of technology services, enhancing the competitiveness of modern logistics, accelerating innovation in software and information services, improving service capabilities in supply chain finance, promoting the development of energy-saving and environmental protection services, and optimizing business services.
The development capacity of key areas in the living service industry should be enhanced, the circular said. Efforts will be made to increase the availability of high-quality services for residents, improve the suitability of elderly care and childcare services, enhance the specialization of healthcare services, and to innovate service models in culture, tourism, and sports.
The opening-up and cooperation in the service industry will be advanced in a steady and progressive manner. Pilot opening-up programs in areas such as value-added telecommunications, biotechnology, and wholly foreign-owned hospitals will be further expanded.
Multiple measures will also be taken to improve the management system for the negative list of cross-border trade in services, strengthen service trade cooperation with key countries and regions, and coordinate the establishment of major open cooperation platforms, such as demonstration zones for innovative development in service trade. Meanwhile, the export of cultural and tourism services will also be promoted, and inbound consumption boosted.
