19条举措扩大服务消费，加强财政金融支持

Core Viewpoint - The Chinese government is implementing strong policy support to expand service consumption as a key strategy for boosting domestic demand, with specific measures outlined in the recent policy document [2][3]. Group 1: Policy Measures - The policy document includes 19 specific measures across five areas to enhance service consumption, focusing on financial support, quality service supply, and stimulating new consumption growth [2][3]. - Financial institutions are encouraged to increase credit allocation for service consumption, utilizing various funding channels such as central budget investments and local government bonds [2][6]. Group 2: Service Consumption Growth - Service consumption has become a significant aspect of domestic demand expansion, with service retail sales growing by 5.1% year-on-year from January to August, outpacing the growth of goods retail sales [3]. - The government aims to cultivate new consumption formats and scenarios, promoting innovative service consumption experiences and supporting the development of new consumption leaders [3][4]. Group 3: Supply Optimization - The policy emphasizes the need to open up sectors like telecommunications, healthcare, and education to enhance service supply, attracting foreign investment and private capital [4][8]. - Since 2015, China has expanded its pilot programs for service industry openness, with new cities added to the list of trial areas [4]. Group 4: Financial Support - The People's Bank of China has established a 500 billion yuan fund to support service consumption and elderly care, aiming to enhance the quality of service supply in sectors like hospitality, tourism, and education [7]. - The policy encourages financial institutions to develop tailored financial products for service consumption businesses, addressing their unique financing needs [6][7].