Chinese are ready to spend on services for a sustainable growth

China's next phase of sustainable growth will be driven mostly by high quality services, said Gordon Orr, the Shanghai-based chairman of McKinsey Asia, part of the multi-national management consult-ing company of the same name.

Orr said China has already efficiently made a structural shift from export-driven growth to consumption-led growth. While this is slowing down during economic structuring, the emergence of quality services will likely become a new catalyst expansion.

"The consumer is already feeling more anxious today, and less certain about what they have to spend on because they have already bought their home and their car. Spending on services is discretionary and not compulsory," Orr said.