China to boost development of new growth areas in service consumption

Chinese authorities unveiled a work plan on Thursday to accelerate the cultivation of fresh growth areas in service consumption, thereby bolstering high-quality economic development.

The plan, issued by the General Office of the State Council, aims to enhance and expand the supply of consumer services while grasping the trend of consumption upgrading in the sector.

According to the plan, six key service areas will be prioritized, namely transportation, housekeeping, online audio-visual content, travel and accommodation, automotive after-market services, and inbound consumption.

A package of targeted support policies will focus on improving service supply, launching pilot projects, and innovating consumption scenarios to drive consumer engagement within these six areas.

Efforts will also be made to focus on potential areas such as performance services, sports events, and experiential services, with an emphasis on improving incentive systems, optimizing safety management, nurturing quality brands, and building platform infrastructures to drive growth.

In addition, China will reinforce support for fostering new growth areas in service consumption by improving standards, strengthening credit systems, and enhancing fiscal and financial backing, said the work plan.