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The Promotion of Deep Integration of Modern Service Industry and Advanced Manufacturing Industry

Author

Listed:
  • Xu Ziyan

    (University of Chinese Academy of Social Sciences (UCASS), majors in study of Tourism Management and Industry Development, Beijing, China)

  • Feng Xiaoxu

    (Research Associate at The Institute of Ethnology and Anthropology, Chinese Academy of Social Sciences, majors in research of Service Economy and Ethnic Tourism, Beijing, China)

  • Xia Jiechang

    (Research Fellow at National Academy of Economic Strategy, CASS, research fields are Service Economy, Industry Development and Tourism Management, London, England)

Abstract

Industry integration is a significant trend in modern economic system and industrial development. It has been proved by both theory and practice that choosing the path of integrated development is the inevitable course for expanding the modern industrial system, extending the industry boundary and improving industry competitiveness. The modern service industry and advanced manufacturing industry with the core feature of innovation and development under the leadership of technology need to satisfy the high standard and requirement of development quality, comprehensive competitiveness, demand shift and green development. Under the development trend of “integration of two industries”, profound changes have taken place in the status, industrial form and agglomeration mode of producer services. New models are emerging in the integrated development of advanced manufacturing and modern service industries in the aspects of innovation, input, output, demand and region. To accelerate the in-depth development of “integration of two industries”, under the precondition of respecting the choice of market supply and demand and industrial development trends, the government needs to exert targeted force in supporting key integrated areas, organizing working mechanisms orderly and standardizing market access regulations, and fostering diversified integration development entities and establishing talent systems.

Suggested Citation

  • Xu Ziyan & Feng Xiaoxu & Xia Jiechang, 2021. "The Promotion of Deep Integration of Modern Service Industry and Advanced Manufacturing Industry," China Finance and Economic Review, De Gruyter, vol. 10(1), pages 86-101, May.
    • Handle: RePEc:bpj:cferev:v:10:y:2021:i:1:p:86-101:n:4
    DOI: 10.1515/cfer-2021-0005
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