Zhoushan in East China's Zhejiang province has made a five-year plan to develop three pillar sectors and five special sectors in its service industry, local media reported on March 27.

According to the plan, the city will construct a regional energy trade and consumption settlement center and develop maritime service and modern marine tourism sectors, as well as improve the development of five sectors, including marine science and technology services, modern finance, business service, health care for the elderly, and cultural creativity sectors.

The service industry has become an important driver for Zhoushan's economic growth and a significant contributor to local tax revenue.

Statistics showed that in 2020, the added value of the service industry in the city accounted for 50.9 percent of its total GDP and the industry contributed 60.1 percent of the city's tax revenue and created nearly 360,000 jobs.

Local industry insiders believe that although the service industry had yielded achievements during the 13th Five-Year Plan period (2016-20), some sectors still require improvements in quality and efficiency.

Yu Shubo, director of Zhoushan Municipal Commission of Development and Reform, said that Zhoushan will make full use of its advantages in policy and location to develop energy trade settlement so as to create an energy trade settlement center capable of generating 1 trillion yuan ($152.88 billion) in revenue per year by the end of the 14th Five-Year Plan period (2021-25).

In addition, Zhoushan's tourism industry will aim to generate more than 150 billion yuan in operating revenue and the city will strive to become the first demonstration city for all-in-one tourism in the province by the end of 2025, Yu noted.

By the end of this year, the added value of the service industry in Zhoushan is expected to increase 7 percent year-on-year. Its scale will also be improved further.