China's Services Sector Set to Drive GDP Growth
· Business · China Daily, Reuters
China's services sector is positioned to play a larger role in driving the country's GDP, according to a China Daily report. The shift reflects Beijing's ongoing effort to rebalance the economy away from heavy industry and manufacturing toward consumption and services.
Why it matters
A larger services share in China's GDP affects Indian exporters competing in the same Asian markets and signals where future Chinese consumer demand will be concentrated. The structural shift also has implications for global commodity prices and trade flows with India's economy.
Read the original report — China Daily
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