Core Insights - The service industry in China has shown significant growth, contributing to economic stability and transformation towards a service-oriented economy [1][4] Group 1: Economic Contribution - In the first three quarters, the value added by the service industry reached 592,955 billion yuan, with a year-on-year growth of 5.4% [1] - The service industry's contribution to GDP was 60.7%, driving a 3.1 percentage point increase in overall GDP growth [1] - The service sector accounted for 58.4% of GDP, an increase of 0.8 percentage points compared to the previous year [1] Group 2: Technological Advancements - New technologies are continuously enhancing the service industry's potential, with the information transmission, software, and IT services sector growing by 11.2% year-on-year [2] - The production index for this sector reached 12.8% in September, indicating robust growth [2] - High-tech service industry investments increased by 6.1%, with information service investments soaring by 33.1% [2] Group 3: Consumer Trends - Service retail sales grew by 5.2%, outpacing goods retail growth by 0.6 percentage points, reflecting a shift towards experience and quality [3] - The tourism and performance sectors saw significant growth, with e-commerce transactions for tourism services increasing by over 20% [3] - The demand for personalized services is rising, as consumers increasingly prioritize service experiences over mere product purchases [3] Group 4: International Engagement - Service trade imports and exports grew by 7.4%, with travel service exports surging by 57.6% [3] - The implementation of visa-free transit policies led to a 52.1% increase in foreign visitors eligible for visa exemptions [3] - Actual foreign investment in the service sector reached 3,661.9 billion yuan, accounting for over 70% of total foreign investment, indicating strong international confidence in China's service industry [3]
人民财评：新动能后劲足 服务业释放多重发展活力
Ren Min Wang·2025-10-23 01:08