The Lanzhou Municipal Government recently released a detailed plan to step up tertiary industry this year. The plan points out that the added value of tertiary industry across Lanzhou is expected to reach 117 billion yuan in 2015, up by 10 percent year on year and accounting for over 56 percent of the city’s GDP.

By 2020, the city’s added value of tertiary industry is expected to account for 65 percent of its GDP, contributing 70 percent to its total output value, according to the plan. The number of labor force obtaining jobs in tertiary industry is expected to reach 1.2 million then. By 2020, the city’s retail sales volume of social consumption goods is expected to exceed 200 billion yuan, with an average annual growth rate of 13 percent. The construction of several large-scale shopping centers will be accelerated in the city.

The productive service industry in Lanzhou will cover trade circulation, modern logistics, transportation, financial services, scientific and technological services, real estate, business services, e-commerce and information services, according to the spokesperson for the Lanzhou Municipal Bureau of Commercial Affairs on May 20.

A specific fund with an annual amount of 50 million yuan will also be established to support the development of tertiary industry in key sectors, innovation capacity fostering and so on, according to the plan.

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