BEIJING - China will look to growing consumption in the services sector, especially in eldercare and domestic help, to boost economic growth, said a senior economic official on Saturday (March 9).. Read more at straitstimes.com.
BEIJING - China will look to growing consumption in the services sector, especially in eldercare and domestic help, to boost economic growth, said a senior economic official on Saturday .
Other than the ongoing trade war with the United States, softening domestic demand is another key factor dragging down the world's No 2 economy. One"obvious shortcoming" was the eldercare sector, he said, adding that China was rapidly ageing where the numbers of the elderly were increasing to the tune of eight million each year.
"It's especially hard to hire a good and affordable nanny in the large and medium-sized cities," he said.
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