The Tertiary Industry in China
The Tertiary Industry consists of two distinct sectors. The Financial Sector focuses on businesses that reproduce capital. The Non-Profit Sector is a non-profit environment, primarily government institutions that provide services to the public rather than sell goods and services. Ultimately, both sectors contribute to the growth of the economy. However, each has its own unique characteristics and functions. Let’s take a closer look. Listed below are some examples of tertiary industries.
Tertiary sector
The tertiary industry is a broad definition of industries that provide services to the public. In China, this sector comprises many different activities including wholesale and retail trade, finance, and insurance, real estate, entertainment, and health care. It complements the primary and secondary sectors in many ways. There are a few different kinds of tertiary industries, and each sector has its own definition. In China, this sector accounts for 44 percent of all output.
Examples of tertiary industries
A tertiary industry is an industry that provides services and operational frameworks to other businesses. Examples of tertiary industries include the transportation industry, food and beverage service industries, and financial and real estate services. Personal and social services are also included in tertiary industries. Education and health care are also considered tertiary sectors. All three sectors are equally important in a developing economy.
Functions of tertiary sector
A tertiary sector is comprised of companies that provide non-physical goods and services, including education, entertainment, retail, and banking. The services sector is a vital part of the economy, accounting for about 80% of GDP in the UK and a similar percentage of employment in the US. The growth of the tertiary sector has given workers more control over their careers and the future of their families.
Growth of tertiary sector
Growing global populations have driven the development of the tertiary sector …
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