BEIJING -- Authorities are aiming to boost the consumption of information products and services and make the sector a new engine for boosting domestic demand and driving economic growth.

By the end of 2015, the consumption of information products and services is expected to grow at an annual pace of at least 20 percent to reach 3.2 trillion yuan ($518 billion), according to a guideline released by the State Council, or China's cabinet, on Wednesday.

"As China's personal consumption is upgrading and the country is undergoing the processes of industrialization, informationization, urbanization and agricultural modernization, information consumption has a sound foundation and tremendous potential," the guideline says.

"Boosting information consumption can invigorate domestic demand and act as a new growth point for the economy, as well as upgrade the service industry, promote economic restructuring and improve people's lives," it says.

The guideline highlights innovation and the power of market forces as ways to promote rapid and healthy information consumption.

The value of industries that are supported by information consumption is expected to be boosted by 1.2 trillion yuan by the end of 2015, according to the guideline.