Service consumption is an important driving force for promoting supply optimization, accelerating industrial upgrading, and achieving the transformation of old and new driving forces. Since the beginning of this year, measures to support the development of service consumption have continued to increase, and new support measures are about to emerge. The Ministry of Commerce recently revealed that it will introduce several policy measures to expand service consumption in September. The reporter learned recently that these policies and measures will focus on increasing the supply of high-quality services, promote the orderly opening of the Internet, culture and other fields, promote the inclusion of service consumption items such as camping, home stay, property services, "Internet plus medical" and other service consumption items in the directory of industries encouraging foreign investment, cultivate new consumption, innovate consumption scenarios and so on. Experts believe that the implementation of the above measures is conducive to further tapping into consumer potential and injecting strong impetus into the integrated development of business travel, culture, sports, and health. International experience shows that when the per capita gross domestic product (GDP) reaches around 15000 US dollars, the consumption structure will accelerate the transition from commodity consumption dominance to service consumption dominance. China's per capita GDP has exceeded 13000 US dollars, and service consumption has entered a stage of rapid growth. At present, China's service consumption demand is in an accelerated release period, and residents are more willing to increase spending in service consumption areas that meet their spiritual needs. There is huge development space for service consumption in culture, leisure, tourism, elderly care, fitness, medical care, and other areas. ”Dong Chao, director of the Circulation and Consumption Research Institute of the Ministry of Commerce Research Institute, said in an interview with China Securities Journal. The above viewpoint can be verified by relevant data. According to data from the Ministry of Commerce, in 2024, China's service retail sales increased by 6.2% year-on-year, with a growth rate 3 percentage points higher than that of commodity retail sales; The per capita service consumption expenditure of residents increased by 7.4% year-on-year, contributing 63% to the growth of per capita consumption expenditure. According to Gao Baohua, a researcher at the Research Institute of the Ministry of Commerce, in an interview with China Securities Journal, in 2024, the per capita service consumption expenditure of Chinese residents will account for 46.1% of the per capita consumption expenditure. Compared with developed countries, there is still significant room for growth in service consumption in China, which should be regarded as an important lever for expanding and improving consumption. Wen Bin, Chief Economist of China Minsheng Bank, stated that currently, the proportion of service consumption in the per capita consumption expenditure structure of Chinese residents is less than 50%. Expanding service consumption is conducive to further tapping into consumption potential. Relevant departments should strengthen the incentive of structural monetary policy tools, stabilize credit support, accelerate the development of diversified financing channels such as bonds and equity, and increase financial resource investment in service consumption supply enterprises. Since the beginning of this year, policy measures to support the development of service consumption have been continuously introduced to optimize and enhance service supply capacity. In March, the General Office of the Communist Party of China Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption"; In April, the Ministry of Commerce, together with relevant departments, issued the "2025 Work Plan for Improving Service Consumption Quality and Benefiting the People"; In May, the People's Bank of China established service consumption and elderly care re loans to encourage and guide financial institutions to increase financial support for key areas of service consumption such as accommodation, catering, cultural and entertainment, education, and the elderly care industry... New policy measures are also on the horizon. Vice Minister of Commerce Sheng Qiuping recently revealed at a press conference held by the State Council Information Office that the Ministry of Commerce will introduce several policy measures to expand service consumption in September, coordinate the use of fiscal and financial means, optimize and enhance service supply capacity, and stimulate new growth in service consumption. In terms of enriching service supply, Gao Baohua believes that relevant policies will focus on increasing the supply of high-quality services. From the perspective of opening up, the relevant policies will promote the comprehensive pilot demonstration of expanding the opening up of the service industry, expand the pilot opening of telecommunications, medical care, education and other fields, and promote the orderly opening of the Internet, culture and other fields; From the perspective of domestic liberalization, relevant policies will focus on key areas such as "one elderly, one primary", catering, and home economics to carry out quality improvement and benefit activities for the people, and expand the supply of diversified services such as health, elderly care, childcare, and home economics. In terms of innovative consumption scenarios, Dong Chao stated that relevant policies will increase support in cultivating new types of consumption and innovative consumption scenarios, in order to meet residents' service consumption needs with better service supply. For example, cultivating a group of first launch centers and first launch economic clusters, vigorously developing new forms, models, and scenarios of consumption such as inbound consumption, "artificial intelligence+consumption", and "IP+consumption". With the gradual implementation of these policy measures and the innovative development of new formats and models, the growth rate of service consumption is expected to further increase. ”Gao Baohua said. Industry insiders say that with the introduction of new policies and measures to expand service consumption, the cultural and tourism industry is expected to usher in a new round of boosting opportunities. The radiation effect of relevant policies will penetrate upstream and downstream industries, promote related enterprises to expand investment, optimize service processes, accurately meet the demand for high-quality service consumption of residents, and further unleash the potential of domestic demand. In addition, the integration of the elderly care industry and service consumption will become even closer, with the rise of the "elderly care+cultural tourism" integrated business model, and products such as health and wellness travel, hot spring recuperation and vacation will be favored. The continued implementation of policies will inject strong impetus into the integrated development of business travel, culture, sports, and health. Gu Jiang, Dean of the Yangtze River Delta Cultural Industry Development Research Institute at Nanjing University, stated that from a supply side perspective, this integration model can break down industry barriers, promote resource sharing and complementary advantages among culture, tourism, sports, and modern service industries, and significantly enhance the risk resistance and resilience of the industrial chain; From the demand side, integrated development can alleviate structural contradictions in the cultural and tourism market and drive consumption upgrading through innovative products and services. From a corporate perspective, Huatai Securities believes that a chain service leader with stable and standardized operational capabilities, leading the way in supply chain optimization and digital transformation, laying out a comprehensive traffic ecosystem, and having a global perspective will emerge in industry competition. These types of enterprises can not only increase market share with their core advantages, but also have the potential to lead industry integration, promote the development of the cultural and tourism industry towards higher efficiency and quality, and inject new vitality into the high-quality development of the industry. (New Society)