Services seen as bright spot for economy

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BEIJING: Amid the sustained recovery in consumer spending, China has employed an array of policy measures to foster greater openness within the services sector, as the country aims to further boost consumption by improving the provision of more quality services, officials and experts say.

To this end, the country will update the industry catalogue that names more sectors encouraging foreign investment, especially those related to services consumption, Assistant Minister of Commerce Tang Wenhong said at a news conference.

In the first half of this year, retail sales of services witnessed a year-on-year growth of 7.5%, surpassing the growth rate of goods retail sales by a margin of 4.3 percentage points, the NBS said.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Growth Sector Openness Spending Services Policy Demand Added Consumer Consumption China

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-12 @ 00:00:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 600 words

Reading Time: 4 minutes read

Sentences: 19 lines

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Copyright Owner: © The Star

News ID: 22022008

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