China to Boost Service Sector with Fiscal Support, Reform Push

China will step up state backing to expand capacity and upgrade quality in the service sector, as it deepens reforms, taps technology, and broadens opening-up to drive growth. The National Development and Reform Commission said Tuesday that Beijing will also sustain support for higher-end manufacturing and efforts to improve living standards. New guidelines aim to grow the service sector to CNY 100 trillion by 2030, focusing on narrowing supply-demand gaps, expanding service provision, and fostering new growth drivers, particularly in services trade. Further, authorities will strengthen producer services through an “AI plus software” push to spur new models and upgrade industrial software. In consumer services, the focus will be on richer cultural and tourism offerings, new consumption scenarios, and tighter regulation to meet rising demand.
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