High-Quality Development of the Modern Service Industry in Fuzhou, China

Abstract

The development level of the modern service industry is a crucial measure of a city's comprehensive strength, regional competitiveness, development potential, and degree of modernization. Since the 13th Five-Year Plan, Fuzhou’s three major industries（the primary industry is agriculture, the secondary is industry and the tertiary is the service industry） have undergone substantial structural changes: the tertiary industry now contributes to half of the total gross domestic product, and the era of the service economy has arrived. This paper provides a comprehensive review of Fuzhou’s service industry development, and it includes a comparative analysis of service industry development between coastal and inner Fuzhou. Furthermore, this paper identifies gaps and insufficiencies in Fuzhou’s service industry and provides suggestions for promoting the high-quality development of the modern service industry in Fuzhou from the perspective of service sectors such as finance, retail, and logistics