China Takes Steps to Boost High-Quality Service Consumption
According to a guideline released on Saturday, China aims to advance consumer services to foster high-quality economic growth and address the need for personalized, diversified, and high-quality services.
TroibNews 
China plans to advance consumer services to bolster high-quality economic growth and cater to the demand for personalized, diversified, and quality services, according to a guideline made public on Saturday.
The guideline, issued by the State Council, outlines 20 key tasks, including unlocking consumption potential in sectors such as hospitality, domestic services, elderly care, childcare, entertainment, tourism, sports, education, and training.
Additionally, it aims to nurture new types of consumption like digital, green, and health services, create innovative consumption scenarios, ease market access, enhance regulation, and provide more policy support for service consumption.
China will continue to open up sectors such as telecommunications, education, elderly care, and medical care, and ensure the implementation of opening-up measures in areas like technology services and tourism, the document states.
The guidelines also include optimizing entry policies and consumption environments, accelerating flight resumptions, offering diversified payment services, and exploring the possibility of granting visa-free entry to more countries.
China will focus on expanding domestic demand with an emphasis on boosting consumption. Service consumption is poised to be a major driver in this expansion and upgrading of consumption as noted during a key meeting that set priorities for the second half of 2024 on Tuesday.
In the first six months of this year, China's retail sales of services rose by 7.5 percent from the previous year, which is 4.3 percentage points higher than that of goods, according to official data.
Lucas Dupont contributed to this report for TROIB News
The guideline, issued by the State Council, outlines 20 key tasks, including unlocking consumption potential in sectors such as hospitality, domestic services, elderly care, childcare, entertainment, tourism, sports, education, and training.
Additionally, it aims to nurture new types of consumption like digital, green, and health services, create innovative consumption scenarios, ease market access, enhance regulation, and provide more policy support for service consumption.
China will continue to open up sectors such as telecommunications, education, elderly care, and medical care, and ensure the implementation of opening-up measures in areas like technology services and tourism, the document states.
The guidelines also include optimizing entry policies and consumption environments, accelerating flight resumptions, offering diversified payment services, and exploring the possibility of granting visa-free entry to more countries.
China will focus on expanding domestic demand with an emphasis on boosting consumption. Service consumption is poised to be a major driver in this expansion and upgrading of consumption as noted during a key meeting that set priorities for the second half of 2024 on Tuesday.
In the first six months of this year, China's retail sales of services rose by 7.5 percent from the previous year, which is 4.3 percentage points higher than that of goods, according to official data.
Lucas Dupont contributed to this report for TROIB News
