In a press briefing on Wednesday in Beijing, China’s State Council Information Office (SCIO) outlined a series of measures aimed at energizing service consumption across the Chinese mainland. Vice Minister of Commerce Sheng Qiuping, alongside officials from the National Development and Reform Commission, the Ministry of Culture and Tourism and the People’s Bank of China, answered questions on how these initiatives will support growth in sectors ranging from digital services to cultural tourism.
Here’s what global citizens, entrepreneurs and travellers need to know:
- Digital Services Boom: Policies will encourage online education, healthcare apps and fintech solutions to capture rising mobile-first demand.
- Cultural & Tourism Revival: New incentives aim to attract domestic and international visitors, with a focus on immersive experiences and sustainable travel.
- Financial Support: The People’s Bank of China will roll out targeted credit tools to help small service firms innovate and expand.
- Cross-Sector Partnerships: Collaboration between tech startups, cultural institutions and local governments will be key to tailor services for diverse audiences.
Sheng Qiuping highlighted that these measures build on a broader shift in the Chinese mainland’s economy towards consumption-driven growth. Data shows service consumption now accounts for a growing slice of GDP, with younger consumers leading the charge through digital platforms. For global travellers and digital nomads, the push promises enhanced experiences, from smart city amenities to new cultural festivals.
As the world watches, China’s latest strategy underscores a global trend: tapping into service consumption to power the next wave of economic resilience and innovation.
Reference(s):
cgtn.com
