Xi Jinping backs services sector to power China’s next growth phase

President Xi Jinping has signalled a renewed focus on China’s services sector, calling for a demand- and tech-led strategy to reshape growth and create jobs, as policymakers met to chart the path forward. “The focus must be on demand-driven development and reforms as well as empowerment by technologies,” Xi said in a message to a two-day conference on the sector that concluded on Wednesday, according to state-run news agency Xinhua. Highlighting the role of services in tackling some of China’...

By Frank Chen