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China issues guidelines to boost development of hi-tech service industry

(Xinhua)

18:45, December 16, 2011

BEIJING, Dec. 16 (Xinhua) -- The State Council, or China's Cabinet, issued guidelines on Friday to promote the development of the country's high-tech service industry.

China is targeting an 18-percent increase in the annual revenues of the high-tech service industry over the next four years, according to the guidelines posted on the central government's website.

Meanwhile, China intends to make its high-tech service industry an important engine of economic growth by 2015. And it will establish an impeccable high-tech service industry system by 2020, according the guidelines.

The high-tech service industry will play a significant role in boosting domestic demand, generating jobs, fostering the growth of emerging industries and optimizing the country's industrial structure, the guidelines said.

The guidelines also noted that the industry remains in a fledgling state, despite the country's growing demand for high-tech services.

The guidelines asked relevant government departments and local authorities to properly implement the central government's policies aimed at boosting the industry's growth, improving the industry's business environment, giving favorable financial and tax policies to the industry, expanding the industry's financing channels and strengthening personnel training for the industry.

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