In SIP, services are no longer a supporting act on the stage of economic growth, but a lead character in open innovation. In the first three quarters of this year, SIP’s GDP reached RMB300.22 billion, a year-on-year increase of 5.5%, with the tertiary sector contributing RMB166.061 billion.
Producer services stand as the backbone, with added value accounting for 72.2% of that of the entire service industry of SIP over this period. This achievement is built on deep integration of manufacturing and services based on a complete service system comprising technology innovation platforms, third-party testing and certification organizations and other production supporters.
Meanwhile, life services are upgrading in both quality and diversity. SIP’s total retail sales of consumer goods grew by 4.0% to RMB66.575 billion from January to September, and the number of new “first stores” (first branches of domestic and international brands in China or in a certain region in the country) exceeded 250. SIP’s offerings in commerce, hospitality, culture and tourism have been continuously enriched.
New types of services are blossoming, especially in such fields as cross-border and offshore trade, finance and culture and creativity.
For example, nearly 2,000 financial institutions have settled down in SIP, forming a robust financial service ecosystem, while creative firms like FriendTimes have demonstrated excellence in developing and marketing globally influential products and services by blending culture with technology.
Many companies like Qichacha (also known as QCC.com), a business information system company, and Juhe Data, an Internet data service company, are expanding overseas. This outward drive is supported by a world-class business environment, including a one-stop international commercial dispute resolution platform and pioneering policies in ESG and offshore finance.
Recently, SIP has instituted new policies with the aim of promoting high-quality development in six sectors including software and information technology, sci-tech services and financial services and 27 sub-sectors.
November 27, 2025
