AsianFin -- China’s central government on Tuesday introduced a series of policy measures aimed at expanding service consumption and stimulating domestic demand, with a particular focus on sectors such as travel, leisure, and consumer credit. The initiative was jointly announced by the Ministry of Commerce (MOFCOM) along with eight other ministries.
Among the key proposals is the exploration of spring and autumn holiday periods for primary and secondary schools, designed to provide families with more opportunities to participate in service-oriented activities. Local authorities would have the flexibility to adjust school calendars based on factors such as climate, production schedules, and employee leave systems, provided that the total number of vacation days and required teaching hours remain unchanged.
The new policy package reflects a broader government effort to cultivate new growth points in the service sector. Officials outlined plans to strengthen policy support, build platforms to facilitate consumption, expand market openness, improve standardization, and optimize the overall consumption environment. Enhanced support for consumer credit is also included to encourage household spending.
According to MOFCOM, the measures aim to “boost domestic demand and promote high-quality development in the service sector,” addressing both structural and cyclical challenges facing China’s economy. By aligning school holidays with potential service consumption periods, authorities hope to generate additional demand in tourism, hospitality, and related service industries.
The policy marks the latest in a series of efforts by Beijing to shift the economy toward domestic consumption as a key driver of growth. Analysts say that targeting service consumption—rather than traditional manufacturing or export-driven growth—reflects a strategic priority to strengthen resilience in the face of global uncertainties.
Government officials emphasized the need for local flexibility while ensuring that educational standards are maintained. By allowing adjustments in school schedules without affecting total instructional time, the policy seeks to balance economic and educational objectives.
Experts note that such measures could benefit sectors like travel, dining, leisure activities, and retail services, particularly during peak holiday periods. Expanding opportunities for service consumption aligns with China’s broader economic strategy to diversify growth drivers and stimulate domestic spending in a sustainable manner.
