China's State Council unveiled a blueprint on Tuesday aiming to grow its service sector to 100 trillion yuan (US$14.7 trillion) by 2030, fusing software and steel to modernise advanced manufacturing and avert deindustrialisation. The plan spotlights 'producer services' such as specialised logistics, information technology and advanced research. Analysts say it will cultivate world-class Chinese brands and shore up the industrial backbone.
China's State Council blueprint, unveiled on Tuesday, targets a service sector valuation of 100 trillion yuan (US$14.7 trillion) by 2030 as advanced manufacturing fuses with specialised technical support.
The guideline highlights 'producer services'—including specialised logistics, information technology and advanced research—to prevent the world's manufacturing powerhouse from hollowing out amid a labour shift to services. Producer services, unlike consumer-facing ones like catering or retail, support production activities through wholesale, logistics, finance and scientific research.
The plan outlines a dual-track approach: elevating producer services to the high end of the value chain with specialisation, while making lifestyle services more diverse and convenient. It calls for 'deeper integration between modern services and advanced manufacturing', with pilot programmes in key sectors, and urges manufacturers to shift from hardware suppliers to 'product-plus-service' providers.
"One of the biggest highlights of the guideline is the shift in focus from lifestyle services to producer services, marking a significant upgrade in strategic positioning for the latter," said Zhu Keli, founding director of the China Institute of New Economy.
Analysts say Beijing's overhaul will cultivate world-class Chinese brands and bolster the industrial backbone against premature deindustrialisation risks.
