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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Oct. 20 (Xinhua) — China's service industry added value grew 5.4 percent year-on-year in the first three quarters of 2025, according to data released Monday by the National Bureau of Statistics (NBS).
During the reporting period, the service sector accounted for 58.4 percent of China's gross domestic product (GDP), up 0.8 percentage points compared to the same period last year, while its contribution to the country's economic growth was 60.7 percent.
Last month, the country's service sector output index rose 5.6 percent compared with September 2024, maintaining its rapid growth pace, said NBS official Peng Yongtao.
According to Peng Yongtao, the modern service sector demonstrated rapid growth in the first three quarters. Added value in information transfer, software, and IT services increased by 11.2 percent, while leasing and business services grew by 9.2 percent year-on-year.
A sharp increase in demand for tourism and leisure services contributed to a significant increase in consumption of these services over the summer, added Peng Yongtao. In the first three quarters, the volume of e-commerce transactions on online tourism platforms grew by more than 20%.
In the first three quarters, retail sales in the service sector grew by 5.2% compared to the same period last year, exceeding the growth rate of retail sales of goods by 0.6 percentage points.
The data also showed that strong business activity was observed in several industries in September this year, including postal services, telecommunications, broadcasting and satellite transmission, as well as in the monetary and financial services sectors.
Peng Yongtao noted that the service sector as a whole demonstrated stable performance during the first three quarters, and the quality of development continued to improve despite the complex external environment with many factors of instability and uncertainty, along with the insufficiency of effective domestic demand.
Going forward, efforts should focus on increasing the supply of high-quality services, developing new growth points in the service sector, and stimulating the vitality of business entities to promote the healthy development of the sector, Peng Yongtao added.
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