From 2020 to 2025, the average annual growth rate of per capita service consumption expenditure of Chinese residents is expected to be 8.5%.

This afternoon, the State Council Information Office held a routine policy briefing. The relevant person from the Ministry of Commerce introduced that from 2020 to 2025, the annual average growth of China's per capita service consumption expenditure is expected to be 8.5%, showing strong growth momentum. The proportion of per capita service consumption expenditure in the total per capita consumption expenditure is expected to increase by 3.5 percentage points, reaching 46.1% in 2025, approaching to becoming the dominant form of resident consumption. In the future, China's service consumption development will usher in an important strategic opportunity period. Service consumption will play an important role in promoting the improvement of residents' consumption rate and driving high-quality economic development.