Chinese Premier Wen Jiabao said Wednesday that the service
sector should take a leading role in the national economy by
creating more jobs and promote healthy development by reducing
pollution and saving energy.
The government discussed the service sector and futures trading
at an executive meeting of the State Council presided over by
Premier Wen on Wednesday.
China will open the service sector to foreign competition.
Private capital will be encouraged to invest in the sector,
according to the meeting.
Economically developed areas should set up regional logistics
hubs, while central and western regions can leverage their
traditional strengths to improve resource allocation.
The country should build more infrastructure to beef up services
in underdeveloped rural areas.
The government vowed to launch favorable policies on various
fronts including tax and land, and to structure the market.
The draft rules on futures trading management approved by the
meeting expanded the scope from commodity futures to financial and
stock option business.
(Xinhua News Agency February 8, 2007)