Key consumer services promoted
Print Edition
CHINA will strengthen support for key consumer services in order to upgrade the consumption structure, an official said yesterday.
Several key sectors, including health care, senior citizen care, tourism, sports, hotels and catering, as well as education and training services will be prioritized, Lin Nianxiu, deputy head of the National Development and Reform Commission, said at a press conference in Beijing.
Stronger consumer services can boost consumption, which in turn will drive economic development and improve people’s livelihoods, Lin said, citing the guideline on promoting consumer services released earlier on Wednesday by the State Council, China’s Cabinet.
The guideline was China’s first such policy document to specifically target expanding consumer services, improving infrastructure for public services and building a better consumption environment for both domestic and international customers, Lin said.
In order to help consumption growth, the government pledged to accelerate reform and innovation, help businesses adopt new technology to improve the quality of their products, encourage imports of consumer goods, open more duty-free shops, and improve tax refund policies for foreign tourists, according to the guideline.
The government will enhance support in taxation, Lin said. All sectors in the consumer service industry will replace business tax with value-added tax, and various market-based financing instruments should be utilized to support the industry’s development.
Qualified enterprises will be supported to seek financing by listing on the stock market and commercial banks will be encouraged to provide better financing services to them, Lin said, adding that insurance companies are urged to be creative when providing products and services for these enterprises.
More land and price support will be provided, including favorable land policies for senior citizen care, health care and household services, and lower transaction card fees in services such as catering, according to Lin.
The government will work to improve the business and consumption environment through enhanced supervision, better intellectual property rights protection and crackdowns on fake goods.
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