Bai Chong-en: China needs to make services better, stronger & bigger

Future household consumption growth is likely to come largely from the services industries, said Bai Chong-en, dean of the School of Economics and Management of Tsinghua University. He added that the manufacturing industries should be made better and stronger, but not necessarily always be bigger, as the country cannot rely too heavily on the investment in the manufacturing industries, and instead should focus on making the services industries better, stronger and larger.