Services-led consumption model
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Analysis-China can't make consumers buy goods, so it leans on services to drive economy
Yahoo Finance· 2026-01-20 23:08
By Kevin Yao BEIJING, Jan 21 (Reuters) - China is planning to introduce new measures to promote the consumption of services, betting that elderly care, healthcare and leisure can offset tepid demand for goods, though analysts say the plan's success hinges on elevating household incomes and social welfare. Beijing views labor-intensive services as a key to reorienting its economy toward consumption as it tries to wean itself off a traditional dependence on big-ticket investment and exports. Authorities ...