Beijing to open service sector wider

Source: Xinhua| 2019-02-22 23:55:58|Editor: Yang Yi
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BEIJING, Feb. 22 (Xinhua) -- The central government has approved a three-year pilot program for Beijing municipality to continue opening up its service sector wider to the world.

The capital should intensify efforts to streamline administration, delegate power to lower levels and improve regulation and services, seek to open the service sector wider, and create a sound business environment, the State Council said in a statement.

The municipal government is encouraged to take bold measures to gain more replicable experience for opening up the service sector and developing an open economy.

According to the pilot program, market access to the Beijing's service sector will be relaxed in fields including leasing and business services, information technology services and financial services.

The city plans to build on its experience from a previous three-year pilot program starting in May 2015 in pursuit of all-round opening up and high-quality economic development.

China's service sector has been contributing more to the country's economic growth, as the country taps the service sector's huge growth potential.

In 2018, the sector's value-added output accounted for 52.2 percent of GDP, and growth in the sector contributed 59.7 percent to the country's economic growth.