BEIJING
Men's Under Armour UA Spine Disrupt Shoes Black White , June 15 (Xinhua) -- China's service sector is expected to play a bigger role in powering the world's second largest economy as increasingly affluent Chinese consumers crave more diverse and better-quality services.
A slew of economic indicators released by the National Bureau of Statistics (NBS) Wednesday showed that the Chinese economy expanded steadily in the first five months, with the service sector being a major bright spot.
Official data showed that China's service sector continued to expand in May, with the Index of Services Production maintaining rapid growth of 8.1 percent year on year, while business activities expanded faster than April to reach 53.5 percent.
Meanwhile, investment in the service industry jumped 11.6 percent year on year in the first five months, 3 percentage points higher than overall investment growth.
Despite rapid growth, China's service sector still holds much potential for growth
Men's Under Armour UA Stephen Curry 3 Mids Black , with per capita GDP for Chinese exceeding 8,000 U.S. dollars.
The service sector's added value accounted for 51.6 percent of China's total GDP last year, well below the average of 57 percent among middle-income economies, let alone the 74 percent for developed countries, according to Meng Wei, spokesperson with the National Development and Reform Commission (NDRC).
"The supply of the service sector still has to catch up with upgrading demand, and China's service sector is now at the middle-and-lower parts of global industrial value chain with a rather big deficit in service trade" Meng said.
The top economic planner in China released a blueprint for the sector's development from 2017 to 2025
Men's Under Armour UA Stephen Curry 2 Mids Grey Blue , which highlights reform efforts to unleash the sector's vitality, including streamlining regulation, encouraging market competition and improving standardization.
China will further open up its booming service sector to expand engagement in the global industrial chain and boost competitiveness, according to the blueprint.
The service sector is a priority in China's opening-up progress, and the government will keep opening up the market while guarding against risks to national security, it added.
Efforts will be made to improve the professional quality of service sectors, including information technology
Men's Under Armour UA Stephen Curry 2 Father to Son Mids Pacific Europa , finance, human resources and energy conservation, while expanding the supply of services in education, sports, elderly care and health care.
China will integrate the development of the service and manufacturing sectors to increase the service sector share of total GDP to 60 percent by 2025. The service sector will provide 55 percent of the country's employment by that time, according to the blueprint.
Meanwhile, China aims to develop service city hubs and brands with global influence by 2025
Men's Under Armour UA Stephen Curry 1 MVP Mids Black White Gold , with enhanced competitiveness in service trade.
"The service sector is closely related to people's livelihood. The stronger the service sector grows, the steadier the economy expands," said Liu Aihua, NBS spokesperson.
TOKYO, March 10 (Xinhua) -- The Nikkei stock index lost 0.67 percent Tuesday as the yen dropping to an 8-year low triggered concerns that rising import costs could weigh on domestic shares and overseas investors could start dumping Japanese issues on devaluation concerns in U.S. dollar terms.
The Nikkei 225 index fell 125.44 points to close at 18,665.11, while the broader Topix index of all first-section issues closed 0. 46 percent
Men's Under Armour UA Stephen Curry 1 Mids Grey Black , or 7.01 points lower, to finish at 1,524.75.
The market opened on a fairly bright note tracking gains on Wall Street as fears that robust microeconomics data in the U.S. recently will mean the Federal Reserve will hike its interest rate sooner abated somewhat, but things took a nosedive in afternoon trade as the yen tumbled to lows against the U.S. dollar not seen since 2007.
While saying that there were concerns in the market about Japanese shares becoming devalued in U.S. terms, local analysts here also said that investors were also becoming increasingly concerned that the yen's weakness would push up import costs and could weigh heavily on domestic issues.
"There's a lag between how the weak yen feeds into earnings and how stock markets perform. But as long as Japan's monetary policy remains easy or very easy, I think it's inevitable that the yen will be on the weak side against the dollar," said Mikio Kumada
Men's Under Armour UA Stephen Curry 1 Mids White Royal Yellow , a strategist at LGT Capital Partners.
The dollar rocketed to a near eight-year high against the yen and was changing hands at 122.02 yen at one point, although eased off at 121.77 yen later on in trading hours.
Generally speaking, a weak yen lifts the market as high cap exporter issues attract buying as their firms' profit outlooks gain on increased competitiveness in overseas markets and their yields are boosted when repatriated. This tends to lift the border market.
But export-related issues closed mixed Tuesday, with top automaker Toyota skidding down 0.18 percent to 8,178 yen, while Honda gained 1 percent to close at 4,082 yen.
Consumer electronics giant Sony dropped 1.2 percent to 3
Women's Under Armour UA Stephen Curry 1 Lows White Gold ,245 yen, but Camera maker Nikon added 2.7 percent to 1,701 yen and Fuji Heavy Industries also closed in positive territory, jumping 2.3 percent to end at 4,068 yen.
Financial issues came under pressure, however, with top lender Mitsubishi UFJ slumping 3.2 percent to 756 yen
Men's Under Armour UA Stephen Curry 1 Lows Black White , while Mizuho Financial Group lost 1.18 percent at 217 yen and Sumitomo Mitsui Financial Group fell 1.6 percent to close at 4,699 yen.
Nikkei heavyweight Fast Retailing, operator of the Uniqlo chain of high street apparel stores, retreated 2 percent to end the day at 44,420 yen.
Among utilities, Kyushu Electric Power closed down 2.2 percent at 1,006 yen
Women's Under Armour UA ClutchFit Drive 2s Black White , after saying it will announce a net loss of 115 billion yen (950 million U.S. dollars) for the year ending March 31.
Trading volume on Tuesday rose to 2.13 bill.
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