On October 28th, the ceremony for the establishment of Shanghai Modern Service Outsourcing College was held at our university.After the ceremony, Prof. Xiang Zhang, former Vice Minister of the Ministry of Foreign Trade and Economic Cooperation, currently standing director of China Center for International Economic Exchanges gave a lecture entitled “China’s Service Economy in the Global Perspective”.He pointed out that as the whole world enters the era of service economy, the service industry has become a major force guiding innovation and that developing the service economy has become a strategic choice of the Chinese economy in this new era.
Prof. Zhang explained that service economy is a new industrial revolution that started in the 1980s.It is a profound and comprehensive economic revolution including changes in technology to those in industrial organization, operation and management, business models, operating system and modes of development. If China’s economy is to rise up in this round of globalization, the key is to hold its own space in the global service economy that is still in gestation. With examples and relevant statistics, Prof. Zhang showed that while China has attained achievements amazing the whole world, severe problems have also emerged. If China wants to transform its economy, to optimize and upgrade its industrial structure, and to change its developmental modes of foreign trade, establishing a successful service industry is the key.
Transforming China’s economy into a service industry is a strategic direction that will ensure long-term, steady and relatively fast growth.Combining with his own experiences, Prof. Zhang illustrated the differing characteristics of the natural economy, the industrial economy, and the service economy from the three perspectives of experiencing, pondering and developing the service economy.He also offered his own views on how to cultivate the service economy.
Prof. Xiang Zhang teaches at Shanghai Jiaotong University and is Honorary Dean of Shanghai Modern Service Outsourcing College at Sanda.