29.04.202601:31:46UTC+00China to Boost Service Sector with Fiscal Support, Reform Push

China will intensify state support to expand capacity and upgrade quality in the service sector, while advancing reforms, leveraging technology, and further opening its markets to bolster growth. Shen Zhulin of the National Development and Reform Commission said Tuesday that Beijing will also maintain backing for high-end manufacturing and initiatives aimed at raising living standards. Under new guidelines, China aims to lift the service sector’s output to CNY 100 trillion by 2030, with an emphasis on narrowing supply-demand imbalances, expanding service offerings, and cultivating new growth drivers, especially in trade in services. Authorities will also reinforce producer services through an “AI plus software” initiative designed to spur new business models and upgrade industrial software. On the consumer side, policy efforts will focus on enriching cultural and tourism products, developing new consumption scenarios, and tightening regulation to better meet rising demand.