Wednesday, September 07, 2016
Supply-side Reforms Must Not Overlook Service Industry
ANBOUND
At the G20 Summit, President Xi Jinping already indicated in his speech that the advancement of the supply-side reforms in China has not been discussed! So where can we begin? In ANBOUND's opinion, the recent outflow of consumption in the Chinese service industry reflects the insufficiencies of supply in the domestic service industry. In the future, in regions where the economy is relatively developed in China, the upgrading and improvement of the service industry will become an extremely pressing issue. By transitioning to a consumption-based society according to China’s needs and transitioning to a more service-based industry in business, the supply-side reforms of the service industry will increase significantly and could even become the key factor in determining whether or not the economy can continue to grow steadily. Seizing hold of consumption means seizing hold of the future, and likewise, seizing hold of the service industry is also seizing hold of the future.