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Guizhou launches plan for service industry innovation

Updated: Nov 9, 2018 Print

A plan for innovative development in the service industry was recently launched in Guizhou. It is expected to further stimulate the market vitality of the industry.

According to the plan, the added value of the service industry will reach 870 billion yuan ($125.5 billion) and account for 46 percent of the regional gross value of production by 2020.

New breakthroughs are expected to be made in the innovation of the service industry, and progress is also expected to be made in the development of new service industry forms, which would stimulate the market.

Certain service industries, such as big data, big tourism and big health, are expected to continue growing rapidly with remarkable achievements in standardization, branding, and intellectualization construction.

By 2025, the reform of the service industry in Guizhou is expected to achieve a major breakthrough. The development environment will be comprehensively optimized, the opening up of Guizhou will be accelerated, the quality of development will be improved, and the competitiveness of market players will be enhanced, which would likely make the industry account for 50 percent of the regional gross value of production.

The plan will provide support for consumers, the transformation and upgrading of industrial structures, and the acceleration of reform and opening up in Guizhou.

It will also help solve problems in the service industry, such as slow development, weak innovation, and insufficient supplies, and build a modern service economy system.

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