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Service Industry Continued Steady and Fairly Rapid Development

Submit Time:01-08-2018 | Zoom In | Zoom Out

Author: | Source:National Bureau of Statistics

Abstract:

This year, with the deepening of supply-side structural reform and accelerated upgrading of consumption, the service industry of China continued its fairly rapid growth, the modern service industry is in a strong momentum of development, the growth of service enterprise operation income has accelerated, and the market expectation keeps on improving.  

I. The growth of service industry has accelerated, and the contribution from modern service industry has increased 

The service sector production index rose 8.1% in May year-on-year, 0.1 percentage point higher than that of the previous month, and at the same level of the same period last year, maintaining above 8% for five consecutive months. In Jan.~May, the service sector production index increased by 8.1% year-on-year, a growth rate 0.1 percentage points higher than that of Jan.~Apr.  

In main sectors in May, information transmission, software and information technology services continued high speed growth, at a rate of more than 30% and kept on rising, the contribution to the growth of service industry production index has exceeded 3 percentage points for 3 consecutive months, becoming the primary motive force in the rapid development of the service industry; the leasing and commercial service industry maintained two-digit growth, with growth rate 2.5 percentage points higher than that in the same period last year; and the growth rate of transportation, warehousing and postal services, finance and real estate was higher than that of the previous month. In May, the total social cargo transport volume grew by 8.5% year-on-year, a growth rate 1.1 percentage points higher than that of the previous month; the railway cargo transport volume rose by 11.8% year-on-year, 10.4 percentage points higher than that of the previous month; the power consumption in the service industry rose by 15.3% year-on-year, 4.5 percentage points higher than that of the previous month.  

In May, the modern emerging service industry, represented by the Internet and related services, continued to play a driving role, with the modern emerging service industry contributing 56.8% to the growth of the service industry production, 0.2 percentage point higher than that of the previous month, and 17.9% higher than that of the same period last year, pushing up the service industry production index by 4.6 percentage points. In Jan. ~ Apr., among the services enterprises above designated size, the four sectors of information transmission, software and information technology services, transportation, warehousing and postal service, leasing and commercial services, scientific research and technological service industry drove up the operation revenue growth by 12.5% year-on-year, contributing 90.3% to the growth. The operation revenues from the strategic emerging service sectors rose 18.2% year-on-year, up 3.1 percentage points from that of a year earlier. Among them, the operation revenue year-on-year increase was 38.2% in information technology consultancy service, 32.5% in Internet information service, and 24.0% in software development, all significantly higher than the average growth rate of operation revenue in the service enterprises above the designated size.  

II. The growth of operation revenue of service enterprises has accelerated, with steadily growing profit  

In Jan. ~ Apr., the operation revenue of service enterprises above the designated size rose by 13.8% year-on-year, a growth rate 1.4 percentage points higher than that of the same period of last year, and 0.2 percentage points faster than that of Jan.~Mar., continuing the trend of fairly rapid growth. 9 of the 10 sectors in service industry maintained two-digit growth in operation revenue; the year-on-year growth rate of operation revenue was higher than that of same period of last year in 8 sectors.  

By regions, the operation revenue in service industry of east, central and west regions all showed a momentum of steady and fairly rapid growth. In Jan. ~ Apr., the operation revenue of service industry enterprises above designated size grew the fastest in the west region, with year-on-year increase of 14.7%, 1.1 percentage points higher than that of the same period of last year; the year-on-year increase was 13.9% in the east region, 1.9 percentage points higher than that of the same period of last year; the year-on-year increase in the central region dropped slightly, but still reaching 13.8%; and the operation revenue in the northeast region rose by 8.3% year-on-year, 1.1 percentage points higher than that of the same period of last year.  

In Jan. ~ Apr., the operation profit in service enterprises above designated size saw a year-on-year increase of 8.4%. All 10 service sectors realized profiting; the operation profit increased year-on-year in 5 sectors, and all with two-digit growth rate; the year-on-year growth rate of the operation profit in 5 sectors was higher than that of the same period of last year, and the year-on-year growth rate of 6 sectors was higher than that of In Jan. ~ Mar.  

III. Service consumption showed a strong momentum, indicating a promising future of the service industry  

At present, China has entered a new stage of accelerating the upgrading the consumption structure, and the continually upgrading consumption demand has powerfully driven the growth of the service industry. In Jan. ~ Apr., the accumulative mobile Internet access flow in the whole country reached 15.69 billion G, a year-on-year increase of 192.2%. From January to May, the online retail amount of the whole country was 3269.06 billion yuan, a year-on-year increase of 30.7%; and the movie ticket revenue reached 28.45 billion yuan in the whole country, a year-on-year increase of 22.4%. During the May Day holidays, the domestic tourism revenue reached 87.16 billion yuan, a year-on-year increase of 10.2%.  

The service industry commercial activity index rose by 0.2 percentage points from the previous month to 54.0% in May, 0.5 percentage points higher than that of the same period of last year. The commercial activity index in sectors closely related to consumption, such as air transportation, postal and express mail service, telecommunications and Internet software remained in the high booming zone above 60.0%, with powerful momentum of expansion; and the commercial activity index in traditional sectors such as retail and accommodation was higher than the overall level of the service industry. In May, the new order index of service industry reached 50.4%, 0.1 percentage point higher than that of the previous month, indicating the sustaining expansion of market demand. With the continual deepening of reforms to streamline administration, delegate powers, and improve regulation and services and the demonstration of the accumulated effect of supply-side structural reform, the service demand will further strengthen, and the service industry will maintain a momentum of steady and fairly rapid development.  


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