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夏杰长:China’s Service Sector and the 14th FYP: Trends, Breakthroughs and Policy Outlook

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作者:Xia Jiechang (夏杰长)

 

作者机构:National Academy of Economic Strategy, CASS, Beijing, China

 

出版物:China Economist

 

年卷期:Vol.15, No.6, November-December 2020

 

摘要:Abstract: China’s service sector has developed a lot in the 13th Five-Year Plan period,and is positioned to upgrade on all fronts in the new era. In the 14th Five-Year Plan period,China’s service sector boasts huge potentials and is expected to maintain steady growth. By2025, the service sector is expected to account for 59.05% of total value added, 54.96% of employment, 60.51% of fixed asset investment, and 50.04% of consumption. Service labor productivity will rise from 143,400 yuan/person in 2019 to 178,400 yuan/person by 2025.It can thus be concluded that in the 14th Five-Year Plan period, China’s service sector will play a dominant role in the economy and head toward higher quality development. To achieve this goal, we must allow for the decisive role of the market and the fundamental role of the government, and open up new prospects in development of the service sector with respect to digilitalization, platform-based operations, smart technology, integration, and standardization.

 

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China’s Service Sector and the 14th FYP: Trends, Breakthroughs and Policy Outlook

 

 

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