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China will strengthen
support for consumer services to upgrade the consumption structure and bolster
economic growth, according to a guideline issued by the State Council.
Several key sectors,
including health care, senior citizen care, tourism, sports, hotels and
catering, as well as education and training services will be prioritized, said
the guideline.
The guideline is
China's first such policy document to specifically target consumer services,
improving infrastructure for public services and building a better consumption
environment for both domestic and international customers.
Consumer services will
be encouraged to expand to rural areas, information infrastructure construction
in rural areas will be accelerated, and private and overseas capital is welcome
to invest in the elder care industry.
More land and price
support will be provided, including favorable land policies for senior citizen
care, health care and household services, and lowered transaction card fees in
services such as catering.
The government will
work to improve the business and consumption environment through strengthened
supervision, better intellectual property rights protection and crackdowns on
fake goods.
Given the continued
slowdown, China is counting on domestic consumption to replace old economic
engines and prop up growth. The economy expanded 6.9 percent year on year in
the first three quarters of 2015, the lowest reading since the second quarter
of 2009.
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