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Drawing upon output, employment, consumption and trade data, this article examineswhether there is an economic tertiarization trend in China’s economy and evaluates thecommon factors driving current trends. It shows that the tertiarization trend is evident forthe overall economy and most regions in terms of the service nominal value-added ratio andservice employment and consumption. However, the tertiarization trend is not significant interms of the service real value-added ratio, and there is even some concurrent “de-tertiarization”because of the decreasing proportion of services in imports and exports.Indeed, China’s tertiarization trend is far behind its industrialization trend. The rise in therelative prices of services explains the rising proportion of household service consumptionexpenditure and further illuminates why the service real value-added ratio has not grown.The main cause for the growing percentage of service employment is the lag in service laborproductivity growth in interaction with the price inelasticity of service demand.“’Cost disease”’has appeared in service consumption.
Drawing upon output, employment, consumption and trade data, this article examineswhether there is an economic tertiarization trend in China’s economy and evaluates the common factors driving current trends. It shows that the tertiarization trend is evident forthe overall economy and most regions in terms of the service However, the tertiarization trend is not significant interms of the service real value-added ratio, and there is even some concurrent “de-tertiarization ” because of the decreasing proportion of services in imports the rise in therelative prices of services explains the rising proportion of household service consumptionexpenditure and further illuminates why the service real value-added ratio has not grown. the main cause for the growing percentage of service employment is the lag in service laborproductivity grow th in interaction with the price inelasticity of service demand. “’Cost disease ” has has in service consumption.