Research on the Evolution of the Tertiary Industry in the Major Cities in China

Abstract

Theoretically, industrial structures have especial relevance to the stages of economic development. Using data of Chinese cities this article discusses the main factors influencing the growth of tertiary industry. Following the Chenery-Syrquin model, the authors estimate a series of regression equations combining these growth factors, which can help explain the formation of certain economic structures. The conclusion is that the important factors affecting the industrial structures of a local economy are the level of economic development, the amount of resources, the level of market development (‘marketabilisation '), as well as the features of the economy in an area.