Abstract: In order to achieve the goal of high-quality development during the 15th Five Year Plan period, the service industry provides key support. At the level of economic growth, it is necessary to improve quality and enhance resilience of the service industry to build a solid foundation for stable economic operation. At the level of efficiency improvement, the productivity gap in the service industry is the core incremental point, and its improvement directly promotes the growth of total factor productivity. At the level of consumption upgrading, the demand for service consumption has crossed from basic guarantee to quality upgrading. In the future, we should release potential demand through supply optimization, so as to inject lasting momentum into the industry.
The Proposal of the Central Committee of the Communist Party of China on Formulating the 15th Five Year Plan for National Economic and Social Development emphasizes the promotion of high-quality and efficient development of the service industry, providing direction for its development during the 15th Five Year Plan period. The service industry is not only the main engine of economic growth and the reservoir of employment, but also the core carrier for implementing the concept of high-quality development and meeting the needs of the people for a better life. Based on the strategic deployment of the Proposal and combined with the actual economic and social development, exploring opportunities for the development of the service industry and breaking through development bottlenecks are the key to achieving both quality and efficiency improvement in the service industry during the 15th Five Year Plan period.
