in the service secto爱上海女神会所r, and deregulate the services for the elderly and children, and medical care and education.
Although its overall economic uncertainty has increased, China’s economy still has great pote
ntial in terms of service and consumption, especially because it is a market of more than 1.3 bil
lion people including a middle-income group of 400 million all of whom are seeking a better life.
Current policy package strong enough to counter headwinds, economist says
China has no immediate need of aggressive stimulus to support growth unless trade tensions with the United States m
ore visibly weigh on growth momentum, and greater patience and policy preparation are needed now for market-
oriented, longer-term reform and opening-up, a senior economist said in an exclusive interview.
Given the uncertainty from China-US trade friction, macroeconomic polic
ies should always be prepared to support the economy, especially if growth mome
completed 5G call tests and more than 500,000 commercial 5G base stations are expected to be
built in South China’s Guangdong, North China’s Hebei, East China‘s Zhejiang and Jiangxi, and Central Chi
na’s Hubei provinces and the cities of Shanghai, Harbin, Tianjin, Chongqing and Wuhan in the future, the report said.
“With technologies and products related to the 5G network maturing, the main parts of the 5G ind
ustrial chain, including systems, chips and terminals, are ready for commercial use,” Wen Ku, a
spokesman for the Ministry of Industry and Information Technology, said on Tuesday.
The report said the ministry, having made a general plan fo
r 5G application, is estimated to formally issue 5G licenses at some point this year.
The emerging service sector also grew very fast, Meng said.
In April, the information transmission industry, along with software and inform
ation technology services, grew 25 percent year-on-year, 17.6 percentage points higher than the national index of services.
Online retail sales amounted to 3.04 trillion yuan ($440.2 billion) in the first four m
onths, a year-on-year increase of 17.8 percent. Around 17.07 billion parcels were delivered, up 24.8 percent over last year.
She said the transformation of traditional industries is speeding up as they combine with information technology.
“Through implementing national big data and internet plus strategies, internet, big da
ta, and artificial intelligence technologies have been widely used in China’s real economy,” she said