ADB & PRC to capture domestic services for economic growth
29 Sep '06
2 min read
For the Economic Census of 2004, value added by services was scaled up by 48.7 percent and GDP by 16.8 percent.
Despite the blistering growth rate, the share of the tertiary sector in PRC's GDP is still much smaller than other industrialized G-7 economies.
In all of the G-7 economies, the tertiary sector accounts for well over 60 percent of GDP while in the PRC it is still only just over 40 percent.
Assuming that the PRC's economy will soon come to resemble those of the developed countries, it is clear that the tertiary sector in the PRC will continue to grow at high rates for several years to come.
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