In a bid to modernize its service sector, China’s Ministry of Commerce and six other agencies released an updated version of the ‘Catalog of Encouraged Imported Services’ on February 25. The revision adds ‘Other Professional Services’ and ‘Medical and Health Services,’ reflecting evolving priorities in sustainability and healthcare.
Breaking down the new inclusions, ‘Other Professional Services’ covers green building engineering and low-carbon related designs, assessments, certifications, alongside supply chain management expertise. These services are poised to drive China’s carbon neutrality goals.
On the health front, the catalog now promotes imports of services for critical disease management, rehabilitation, and wellness promotion. This is crucial as China grapples with rising chronic disease rates and an expanding elderly demographic.
Adjustments were made to streamline the list: outdated or less critical services in digital tech development, testing, analysis, and resource use were pruned. The catalog, originally launched in 2016 and tweaked in 2019, marks its third major update in 2024.
This policy shift is expected to invigorate foreign investment in services, enhancing China’s global competitiveness while promoting eco-friendly and health-oriented growth.