Better service, better economy (2)

（People's Daily Online） 08:50, August 01, 2013

Financial advisor Zhang Ran (M) exchanges working experience with his colleagues at the ICBC Beijing branch. Photo taken on Oct. 16, 2012. (Photo/Xinhua)

In recent years, service sector in China has grown robustly and its increased value has exceeded industrial sector. More labor force is engaged in service sector than agriculture. But the service sector in China is still smaller than it should be. In 2012, the service sector contributed 44.6 percent of GDP. In contrast, the service sector in developed countries has a large GDP shares which is above 70 percent. Unlocking service sector in China therefore has enormous potentials.

To accelerate the development of China's service sector will benefit the strategic restructuring of China's economy, deepen the reform, and facilitate trade, and increase overall economic efficiency.

Edited and translated by Wang Xin, People's Daily Online.

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