The State Development Planning Commission has decided to take new
measures to push ahead with the development of the service trade
during China's 10th five-year plan period (from 2001 to 2005).
The measures include a gradual opening up of various service
sectors, such as banking, foreign trade, tourism,
telecommunications, insurance and medical treatment, to overseas
investors.
Private investors are also encouraged in all the sectors that are
open to foreign investors.
- One measure for pushing ahead with the reform of the service
industry is that large and medium-sized state-owned enterprises in
the service trade are required to turn into companies while the
small state-owned enterprises are allowed to become share-holding
companies or to reform their management systems.
The fast growth of the service trade is believed to be an important
factor for guaranteeing the rapid and sound development of the
national economy.
- The commission has also called for the restructuring of the
railways, aviation, telecommunication, food and beverage, public
utilities and other service industries.
- According to the new measures, China is to introduce more
senior personnel from overseas and to speed up the training of
personnel for the service industry.
(
January 28, 2002)