More progress with raising the share of consumption in GDP calls for making more headway with reforms.
The country should accelerate its financial, tax, fiscal and educational reforms in a bid to break the structural obstacles to development of the service sector.
Potential users of robots will obviously assess the benefits of using robots rather than human workers and may decide it is not cost-effective to use robots.
Hopefully, the success of the Shanghai FTZ will help the FTZ network take the lead in regional development based on the market and relevant laws.
Tourism is a supporting pillar of the service sector in several developed countries, so they tend to invest heavily in attracting tourists to boost their economies.
In this development model, the central government delegates powers to the local governments and links their interests, which range from tax revenues to personal promotion, to regional development.
It is more than necessary to promote the ability to defend financial security during the 13th Five-Year Plan (2016-20) period.
While the need for SOE reform is great and too many SOEs still fight to maintain the troubled status quo, there are also some Chinese SOEs leading by example.
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