The Ministry of Finance and the Ministry of Commerce revised and issued the "Management Measures for the Development Fund of the Service Industry."

On June 9th, in order to strengthen the management of funds for the development of the service industry and give full play to the role of central fiscal funds in guiding and promoting the rapid development of the service industry, the Ministry of Finance and the Ministry of Commerce revised the "Regulations on the Management of Funds for the Development of the Service Industry" and hereby issue them. The scope of support provided by the service industry development fund includes: (1) Accelerating the cultivation of new consumption growth points. This mainly includes promoting the improvement of service consumption quality and benefit people, stimulating the vitality of consumption in sinking markets, and promoting the widespread application of new technologies such as artificial intelligence in the consumption field. (2) Enhancing the competitiveness of the commerce and trade circulation industry. This includes filling in the short board of circulation facilities, enhancing the supply capacity of circulation, vigorously developing modern supply chains, and enhancing the level of industrial integration and collaboration. (3) Matters of importance deployed by the Party Central Committee and the State Council, as well as other work that promotes the development of the service industry. The full text can be found in the original message.