Household Services Consumption Powers Economy
China is stepping up efforts to stimulate household services consumption, seeing the sector as a key lever for near-term growth and a long-term strategy to upgrade the economic structure.
Boosting services consumption reflects deeper economic and social shifts, ensuring smooth domestic economic circulation and improving livelihoods.
- Tourism
- Culture
- Education
- Healthcare
- Eldercare
These services hold vast potential to drive GDP and counterbalance uncertainties in investment and trade, generating greater employment as they are more labor-intensive than manufacturing.
Boosting services consumption is about more than just spending.
Author's summary: China stimulates household services consumption to power economy.
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