China should boost development of service sector: official

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Last updated at: (Beijing Time) Monday, March 22, 2004

China should boost development of service sector: official

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China should focus on the development of the service sector in its effort to shift from extensive to intensive growth, said a senior Chinese official Sunday at a forum on China's balanced development.

Ma Kai, minister in charge of the National Development and Reform Commission, said that China's economy grows still in an extensive way, featuring high investment, high energy-consumption and low efficiency. Energy shortage and employment pressure are both problems hindering China's current development.

China has determined to increase its economic growth in an intensive way. Large capital-intensive companies tend to save energy and natural resources while labor-intensive small and medium-sized enterprises could provide more jobs. At present it isstill necessary for China to develop labor-intensive businesses, Ma said.

Ma said the problems could be addressed simultaneously only by boosting the development of the service sector, which is generallylabor-intensive and consumes less energy and natural resources than other industries.

Source: Xinhua

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