China's Journey To A Service Society
from Statista.com
– this post authored by Katharina Buchholz
China’s once strong agricultural sector is steadily losing importance and in 2019 was responsible for only around 7.1 percent of the country’s GDP. The industrial sector, which has long been the mainstay of the Chinese economy, is also losing relevance. In short, China is well on the way to becoming a service society. In 2019, almost 54 percent of GDP was created through services, according to the World Bank. Thus, the country is moving closer structurally to Western and other developed economies, where this changeover occurred earlier.
Source: http://econintersect.com/pages/contributors/contributor.php?post=202009140231
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