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BEIJING cheap adidas iniki runner , June 14 (Xinhua) -- China's economic growth held steady in the first five months as key service indicators rose rapidly, suggesting that structural upgrades have cushioned long-term downward pressures.


"Led by supply-side structural reform and innovation-driven strategy, the national economy continued to grow steadily in May with increasing coordination of development," said Liu Aihua, spokeswoman of the National Bureau of Statistics (NBS) Wednesday.


The NBS reported May growth of 8.1 percent for the service sector on Wednesday, flat with April and extending the rally since the beginning of the year. The data confirmed the message that the ongoing growth model transitioning was providing new impetus to the world's second largest economy.


The service sector accounted for more than half of the Chinese economy last year. NBS data shows that the service sector has taken up a bigger share of GDP compared to the secondary industry in 60 percent of provincial-level regions.


One of the latest provinces to join the trend was Shandong in eastern China. In the first quarter cheap adidas alphabounce , the proportion of local service sector contribution to GDP rose 1.5 percentage points to 51.1 percent, according to the provincial government.


Seven of the top ten provinces with highest GDP have seen such shifts.


"The shifts show Chinese economy is becoming dominated by the service sector. Under downward pressures, industrial upgrades are vital for sustaining economic growth and avoiding the middle-income trap," said Chi Fulin, head of the China Institute for Reform and Development.


More profound changes are happening in relatively developed regions.


In the eastern metropolitan of Shanghai, the proportion of the service sector contributing to GDP reached 50.8 percent in 2004. Local investment growth rate eased to 6.5 percent in 2014 cheap adidas nmd shoes , lower than the 7 percent regional growth.


The city's GDP grew 6.8 percent last year, exceeding the national growth rate for the first time in eight years, with the service sector contributing over 70 percent.


"The change is a milestone in Chinese economy. It showed Shanghai got over the investment-driven growth model which China has relied on for years," said Li Yang, director of National Institution for Finance and Development, under the Chinese Academy of Social Sciences (CASS).


Compared to developed countries such as the United States cheap adidas pure boost , however, the service sector's contribution to GDP in China remains low. But the sector has huge growth potential as it becomes increasingly attractive to investments.


Wednesday's data showed that investment in the service industry jumped 11.6 percent year on year in the first five months, 3 percentage points higher than overall investment growth.


Investment in the service sector rose 10.9 percent year-on-year in 2016, outpacing a 3.5 percent increase in secondary industries, according to official data.


A CASS research report forecast the service sector will account for 72 percent of China's total industrial output and pr. http://www.wholesalenbacheapjerseys.com/ Wholesale Jerseys From China Wholesale Jerseys From China Wholesale Jerseys China Wholesale Authentic Baseball Jerseys Wholesale Soccer Jerseys Cheap Wholesale Adidas NHL Jerseys Wholesale New Basketball Jerseys Cheap Jerseys From China Cheap College Hockey Jerseys