[Deutsche Bank Research]
(February 16, 2011)
 

Abstract
— The global recession has revealed weaknesses in China’s growth model, which relies on exports and investment as its drivers. By ramping up domestic economic activity it is planned to make the country’s expansion less reliant on global trends. This should benefit precisely the services sectors.
— The twelfth Five Year Plan is expected to shift the focus of economic policy in this direction. Revaluation of the yuan, higher minimum wages and state investment in the healthcare system could help strengthen the tertiary sector. However, any changes in economic policy are likely to be moderate. Especially in the Special Economic Zones, industry will remain a vital employer.
— Consumer services should continue to catch up on business-related services. The rising number of people participating in the country’s prosperity, e.g. through higher minimum wages, will fuel consumer demand.




[관련자료]
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