China's Xi urges demand‑driven growth in services sector - Reuters
China's Xi urges demand‑driven growth in services sector Reuters
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Notable Quotes
"Striving to break new ground in the high-quality development of China's service sector."
— Xi Jinping , Politician
"The synergy of sports, culture, tourism, commerce and exhibition is now unlocking imagination for Shanghai's consumption opportunities."
— Lu Shan , Executive
"As incomes rise, spending tends to drift away from physical goods toward healthcare, education, leisure and professional services."
— Xi Jinping , Politician
"While opening the market creates opportunities, it also intensifies competition with domestic firms and can foster new partnerships and drive innovation across the industry."
— Denis Depoux , Executive
"As digital technologies drive industrial upgrading and deepen integration with advanced manufacturing in China, they are expected to draw more foreign service providers."
— Nie Pingxiang , Academic
"The opening of China's services sector is lowering the cost of going global by enabling companies, particularly small and medium-sized enterprises, to expand overseas without heavy up-front investment."
— Chen Jianwei , Academic
Key People
A researcher at the University of International Business and Economics in Beijing.
Global managing director of German management consultancy Roland Berger.
Lu Shan is the vice-mayor of Shanghai, focused on enhancing urban consumption opportunities.
A researcher specializing in trade in services at the Chinese Academy of International Trade and Economic Cooperation in Beijing.
Xi Jinping is the General Secretary of the Communist Party of China and President of China.
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<a href="https://news.google.com/rss/articles/CBMiqwFBVV95cUxOcmlUSmN0b2ZBNGdicEdsc3R0OUlJQy1pWUlzTWJqRmNMMnJEVXFvTVZuYWpKZnlVbE5kdGRhV2lDcHk5M0psei1VUFlCWEtIYnBJVlUtdzVRMnJ1eHpLXzI2Z1doNEVOLXhDRVpLR25FT25iTFlMUHRuV1lQWmliZjduOXBSRFMxQVZ6NlJJTmw2X19OSmtZUDZtOS1fTXVLQlI4T1Z6ekxaQ3M?oc=5" target="_blank">China's Xi urges demand‑driven growth in services sector</a> <font color="#6f6f6f">Reuters</font>
President Xi Jinping calls for a demand-driven approach, reform, and technological empowerment to develop China's service industry, aiming to cultivate more 'China service' brands and enhance production-oriented services.
President Xi Jinping emphasizes the need to achieve new breakthroughs in the high-quality development of China's service sector, as conveyed at a national conference in Beijing.
China's value-added service output increased by 5.4% year-on-year to 80.89 trillion yuan in 2025, contributing 61.4% to the country's overall economic growth, as per the National Bureau of Statistics.
The editorial highlights the strategic role of the service sector in China's economy, noting that services now account for 57.7% of GDP and close to half of total employment, with shares even higher in large cities.
China's push to open up its services sector is unlocking new growth avenues for foreign investors, as the country pivots toward a more innovation-driven and consumption-led model.
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