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China Should Promote Services To Increase Jobs

CHINA PRESS
MNI (Singapore)

China should promote the service sector to stabilise employment and boost consumption, according to Guan Tao, global chief economist at BOC International, in an article published on Yicai.com. The number of employees in the tertiary industry increased by 10.6 million in 2023, while the primary industry decreased by 7.8 million and the secondary industry rose by 4.2 million, according to Ministry of Human Resources and Social Security data. Authorities must relax access restrictions for the service industry while improving property rights and fair competition, as well as promoting the deep integration of modern service industry with advanced manufacturing and modern agriculture, said Guan.

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