Business / Policy Watch

Beijing opens service sector wider to spur vitality

(Xinhua) Updated: 2015-05-22 08:53

BEIJING - Beijing is carrying out a three-year pilot program to open its service industry wider to foreign investment for more market vitality.

According to a plan approved by the State Council, China's cabinet, the capital is the first city to carry out the opening-up to modernize its service industry and meet international standards.

Beijing shall start with six key service areas that are comparatively mature and hold potential, the plan read.

These areas are science and technology, Internet and information services, culture and education, business and travel, financial services, health and medical services.

Beijing's gross domestic product (GDP) in 2014 rose 7.3 percent to reach 2.13 trillion yuan ($340 billion), with the service industry accounting for 77.9 percent.

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