China leans on services to boost consumption amid challenges in driving consumer goods sales

China’s economy is looking towards service sectors to spur growth in consumer spending, facing hurdles in inspiring purchases of goods. The shift signifies a new approach by the country to bolster its economic foundation while navigating through challenges. Amid pressure to boost domestic consumption, services have emerged as a strategic area for China’s economic development. While traditional methods focused on physical products, the emphasis on services is a shift in strategy, aiming to drive consumption by offering experiences and intangible services that meet evolving consumer demands. The trend highlights the increasing importance of service-oriented businesses in shaping China’s economic landscape….