Business / Policy Watch

China to increase policy support for service sector

(Xinhua) Updated: 2016-10-15 15:11

BEIJING - China will offer more policy support to boost the growth of the service sector as a new engine to power the country's economic transition, according to the Chinese cabinet.

The government will cut red tape and ease restrictions for the development of elder care, education and sports services, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang.

Unreasonable administrative approvals needed to set up elderly care institutions will be eliminated and spare workshops or training centers may be turned into facilities for the elderly, according to the statement.

China will allow private schools to adjust their fees according to their own conditions and encourage domestic educational institutions to cooperate with foreign counterparts to improve competitiveness in state-of-the-art fields.

The government will roll out policies to promote recreational vehicles to boost tourism in rural or suburban areas, expand visa-free ports for inbound cruise tourism and pilot yacht leasing services, while local governments are encouraged to develop facilities for recreational sports, including winter sports.

China will further reduce barriers for private investment in consumer and service businesses.

The government will also roll out more supportive fiscal and financial policies to develop manufacturing of assistive devices for the disabled.

The statement said China will continue to reform business registration procedures by streamlining them and encouraging online services.

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