Chinese VP underlines service industry development

BEIJING - Chinese Vice-Premier Li Keqiang on Friday urged acceleration in the development of China's service industry to aid a transformation of the country's development model.

Although the service industry registered fast expansion in past years, a low share in the economic output challenged the sector, Li said during the first Beijing International Fair for Trade in Services, which closed on Friday.

More efforts should be made to encourage trade in the sector to increase its share in the country's economic output, according to Li.

He noted its development should encourage innovation in technologies and management, coordinate the development of advanced manufacturing and strategic emerging industries and serve demand from the real economy.

He also emphasized the sector's role in improving people's livelihoods, which he said is still insufficient.

Li urged authorities to support the sector's development, build a fair environment for competition and encourage investment of private capital in the sector.

The five-day Fair for Trade in Services, hosted by the Ministry of Commerce and the Beijing municipal government, has attracted more than 22,000 service providers from 82 countries and regions.