China’s Service Economy in the Coming Five Years (2011-2015)

XIA Jiechang , LIU Yi  and LI Yongjian

Institute of Finance and Trade Economics, Chinese Academy of Social Sciences

Abstract: This paper suggests that a new approach should be taken for the development of China’s service sector. Priorities for this include: appropriate objectives for service
sector development, enhanced functionality, integrated development between manufacturing and services, improved regional layout of the service sector, and the emergence of reputable brands and leading enterprises. Well-designed and effective industrial policies, as well as calls for major breakthroughs in institutional mechanisms, must support the development of the service sector. Additionally, excessive burdens and difficult financing channels need to be addressed. More attention should be paid to the construction of the credit system, service standardization, and service statistical accounting as element tasks.

Key Words: development of the service sector, era of service economy, service sector policy

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