Leading High-Quality Development of Service Industry with Institutional Innovation

Abstract To realize the transition from high-speed growth to high-quality development, it is necessary not only to change the way and path of economic growth, but also to speed up the improvement of the institutional system that is compatible with high-quality development. China has unique institutional advantages in promoting the high-quality development of the service industry (HQDSI), but the service industry is a typical institution-intensive industry that faces higher institutional barriers than the manufacturing industry. Therefore, institutional reform and business environment optimization are particularly important to the promotion of HQDSI, and the effect is also very prominent. Facing the future, we should lead HQDSI by building a high-standard socialist market economy, promote the high-quality and efficient development of the service industry by standardizing it, and encourage the innovation and entrepreneurship of the industry by improving the institutional environment, thus steadily boosting HQDSI in the new era of reform and opening up.