BEIJING, Jan 29 — China has issued a work plan to boost service consumption, spanning cruise and yacht tourism, smart home-based elderly care, and sports events, as policymakers step up efforts to lift domestic demand.
The authorities will also support the development of the car-modification sector, expand self-drive tourism, promote new experience-oriented business models, and improve inbound‑travel services, according to the Cabinet’s work plan.
It pledges to advance high‑quality yacht consumption, overhaul yacht safety-management regulations, and upgrade infrastructure, including public docks and berths.
In sports, the authorities will increase the supply of high-quality events, encourage the introduction of top international competitions, and promote high-quality outdoor sports destinations.
The Cabinet added that Beijing will push banks to expand credit to service-consumption firms and allow qualified companies in culture, tourism, education, sports and household services to raise funds through bond issuance.
Reuters previously reported that the government was preparing measures to boost service consumption, including elderly care, healthcare, and leisure, to lift overall demand, but analysts said its success would depend on rising household incomes and social welfare.
Chinese leaders have pledged to boost domestic consumption and tackle deep-rooted overcapacity problems, amid concern that the export boom that cushioned the economy from United States tariff shocks last year may prove difficult to sustain.
