服务消费兴 中国经济旺

Core Viewpoint - The development of service consumption is essential for China's economic growth and is increasingly recognized as a necessary component for enhancing domestic demand and consumer spending [1][2]. Group 1: Economic Vitality - Service consumption is a key indicator of economic vitality, characterized by rich consumption levels, high frequency, broad reach, and sustainable growth [2]. - In the first ten months of this year, service retail sales increased by 5.3% year-on-year, outpacing the growth rate of goods retail sales [2]. - The thriving service consumption sector is expected to play a crucial role in driving high-quality economic development and expanding domestic demand [2]. Group 2: Innovation and Integration - "Business integration" is a core aspect of expanding service consumption, emphasizing the need for new service products and models that incorporate digitalization and AI tools [3]. - The current technological revolution and the trend of industrial transformation are driving the need for innovative service consumption that meets the personalized demands of new consumer groups [3]. - The service sector is viewed as a "testing ground" for social capital and private investment due to its diverse forms of innovation and integration compared to manufacturing [3]. Group 3: Employment Stability - The service sector is a significant area for job creation, with the proportion of per capita service consumption expenditure rising to 46.8% of total per capita consumption expenditure in the first three quarters of this year [4]. - The growth of service consumption contributes to employment stability, which in turn enhances residents' income and boosts their willingness to consume [4]. - Expanding service consumption requires ongoing efforts to broaden employment channels, increase employment flexibility, and improve worker income, thereby providing sustained momentum for domestic demand and consumption [4].