Recently, the Beijing Municipal People's Government issued the "Special Action Plan for Deepening Reform and Boosting Consumption in Beijing" (hereinafter referred to as the "Plan"), which proposes 24 tasks around six aspects. One aspect is to optimize the service consumption experience. The Plan clearly proposes to explore new connotations of entertainment consumption, create new scenarios for tourism consumption, stimulate new vitality in sports consumption, meet new demands for education and training, cultivate new engines for beautiful and healthy consumption, and provide new supply of domestic services. Service consumption is connected to both the economy and people's livelihoods, covering multiple fields such as catering and accommodation, home services, elderly care and childcare, cultural and tourism, education and sports, residential services, and health services. In addition to Beijing, many other places have recently introduced special action plans to boost consumption. For example, in June, the General Office of the People's Government of Shanxi Province issued the "Implementation Plan for the Special Action to Boost Consumption in Shanxi Province", which clearly stated the implementation of the action to improve the quality of service consumption and benefit the people, and proposed multiple measures such as enriching the supply of "one elderly and one small" services, expanding cultural tourism consumption, and activating entertainment and sports consumption. In the same month, the General Office of the People's Government of Guangxi Zhuang Autonomous Region issued the "Implementation Plan for the Special Action to Boost Consumption in Guangxi", which clearly stated the implementation of the action to optimize service consumption. In May, the General Office of the Shanghai Municipal People's Government issued the "Special Action Plan for Boosting Consumption in Shanghai", which proposed to upgrade the quality of service consumption. Specific measures include creating a cultural consumption highland, building a world-renowned tourist city, and vigorously developing the sports event economy. During an interview with reporters, Luo Zhiheng, Chief Economist of Yuekai Securities, stated that the importance of service consumption is becoming increasingly prominent. At the macroeconomic level, service consumption is an important lever for stabilizing growth, employment, and people's livelihoods; At the regional development level, the localization characteristics of service consumption are prominent, effectively promoting balanced regional development; At the level of innovative development, high-quality service consumption can accelerate technology diffusion. Looking ahead, the potential for service consumption is expected to continue to be released. The "2025 Third Quarter Economic and Financial Outlook Report" recently released by the Research Institute of Bank of China shows that in the second half of the year, the support for consumption growth mainly comes from further policy strengthening and the release of service consumption potential. With the improvement of living standards among Chinese residents, service consumption has entered a stage of rapid growth. Under the trend of population aging, the demand for elderly care services, medical health, and other services has significantly increased, as well as the growing enthusiasm of young consumers for new consumption experiences such as cycling, camping, and skiing, all of which have become new driving forces for the growth of service consumption. In this context, further policy reinforcement is expected to break through the barriers to service consumption and help further unleash the potential of services. Industry experts believe that China has gradually entered a stage of high-quality development, and the consumption structure of residents is also being optimized and upgraded. The demand for high-quality services will continue to rise. The current policy of exchanging old for new mainly provides subsidies for durable consumer goods, with significant short-term effects. However, over time, the driving effect of subsidies on consumption will gradually weaken, while service consumption has great potential for growth. Recently, the People's Bank of China launched the service consumption and old-age refinancing tools, which will help promote enterprises to improve the supply level of service consumption and better meet the needs of the masses for high-quality services. This is also an important direction for future macro policy support to promote consumption. It is worth mentioning that in June, six departments including the People's Bank of China jointly issued the Guiding Opinions on Financial Support to Boost and Expand Consumption, which, in addition to mentioning the service consumption and pension refinancing tools that have been set up in the earlier stage, also clearly proposed to support the development of service consumption, and help to tap and release the potential of service consumption through a series of measures such as increasing credit support for key areas of service consumption. Luo Zhiheng believes that boosting service consumption requires simultaneous efforts from two aspects: income security on the demand side and quality improvement on the supply side, and promoting high-quality development of service consumption through a systematic policy combination. (New Society)