Zhang Yueyou, Ma Lijun and Pan Sanmao: Revitalize the Service Industry to Support the Steady and Sustainable Development of Chinese Economy

Release time:2024-08-30Author: Zhang Yueyou, Ma Lijun and Pan Sanmao

Abstract: Currently, China is in a crucial period of economic recovery and industrial upgrading, with the rapid realization of steady growth, stable employment, and stable expectations becoming the primary concern of present economic work. This paper analyzes the three major dilemma faced by China's service industry, the main challenges of China's economic operation in the post-pandemic era, and the relationship between them. It proposes to take the service industry as the main lever for China to promote economic recovery and enhance the endogenous power of economic development. Therefore, this paper provides the following recommendations. Firstly, we should emancipate the mind and correct the discrimination against the service industry. Secondly, we should rely on digital technology to promote the transformation and upgrading of the service industry, so as to improve the efficiency. Thirdly, we should insist on promoting common prosperity from the production end. Fourthly, we should optimize the business environment and take other multiple measures to revitalize the service industry, supporting the pillar of China's stable high-quality economic development.