China will open up its service sector wider to draw foreign investment, said an official with the National Development and Reform Commission (NDRC) on Friday at the Summer Davos in Dalian.
"Finance, telecommunications, modern logistics, commerce, consultation as well as integrated science and technology services will be major beneficiaries of the orderly opening-up," said Zhang Xiaoqiang, vice minister of the NDRC.
China is to speed up the reform of its service sector to make it "more marketized, industrialized and socialized, Zhang said.
A fair, open and regulated entry system shall be set up for civil aviation, telecommunications, postal service, urban utility and medical service, and environment, he said.
"The development of China's service industry is lagged behind in general," Zhang said, noting it makes up less than 40 percent of the country's GDP, ten percentage points lower than the world's average.
China's big service companies are also encouraged to invest overseas, so as to achieve mutual benefits along with their foreign counterparts, the official said.
The number of employees in China's service industry reached 246 million in 2006.
Source: Xinhua
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