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Today, the world has entered the era of the service economy, and service industry of China is developing rapidly in terms of the proportion of value or employment, which is a trend to catch-up the second industry. The Yangtze River Delta region is one of the country’s most economically developed areas, which service industry has the leading position in China. So we study the development of service industry in Yangtze River Delta, then to sum up the law of its development, which will help to further develop policies, and to lead the national development of service industry, during the crucial period of economic restriction.This paper studies the development of service industry in Yangtze River Delta, including the various factors that affecting the development of service industry, the relationship between the process of industrialization and the service, buffer effect of economic fluctuations, as well as the capacity of absorbed labor. The methods are: multiple regression analysis, HP filter analysis, impulse response function analysis, and flexible function analysis. The analysis above obtained the following conclusions: 1, the consumer level, per capita GDP, fixed asset investment in the service industry, as well as the population have played a positive role in promoting the development of service industry in Yangtze River Delta. 2,the growth of services to promote the growth of per capita GDP and the acceleration of urbanization process, while promoting the improvement of labor productivity, but the services sector, primarily play an active role in the development of heavy industry not in the development of the light industry , and also the transaction costs. 3, the development of service industry played a buffer role in the economy, also played a positive role in promoting GDP. 4, the service sector employment absorption capacity has despised significant progress, but the employment structure of the service industry is irrational, which will create an obstacle to absorb the labor force in future. Based on the above conclusions, there are some recommendations: 1, to change the traditional service industries into the modern service industry. 2, promote the industrial structure of services, then to develop the creative industries vigorously. 3, to adjust the imbalance of service, try to strive for overall development. 4, broaden the services market, promoting a service as the core of urbanization.
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