ICYMI China services boost plan, opening key sectors & funding sports, culture, healthcare | investingLive

On Tuesday China announced a broad set of measures to boost services consumption as it grapples with slowing economic momentum. The plan, issued by nine agencies including the commerce and finance ministries and the central bank, pledges to further open sectors such as internet, culture, telecommunications, medical care, and education. Authorities aim to attract more foreign and private investment, particularly in mid- to high-end healthcare, leisure, and tourism.

The measures also emphasize developing the sports economy through international events, mass activities, boutique competitions, and professional leagues. To support these initiatives, Beijing will deploy central government funds and local special bonds for infrastructure projects in cultural, tourism, elderly care, childcare, and sports facilities. Monetary policy tools will encourage banks to expand credit to service-sector businesses.

The rollout comes as factory output and retail sales in August posted their weakest growth since last year. Policymakers are already providing interest subsidies to service industries such as catering and tourism, and 231 billion yuan ($32.5 billion) in special treasury bonds has been allocated to support consumer trade-ins of appliances and electronics. Economists argue that strengthening services consumption is critical as Beijing confronts U.S. tariffs and a broader slowdown.

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China’s push to boost services highlights Beijing’s pivot toward domestic demand as growth stalls. While targeted at culture, healthcare, and tourism, the measures may help stabilize consumption-linked sectors and support equities tied to leisure and healthcare. However, continued weakness in factory output and retail sales suggests overall growth pressures remain, keeping expectations for broader stimulus alive.