MNI POLICY: Xi Urges China to Focus on Modernizing Logistics

China will focus on building modern logistic systems to deepen supply-side structural reform and allocate resources and support for the "dual circulation" strategy, Chinese Chairman Xi Jinping told a meeting with the Financial and Economic Commission of the CPC Central Committee. China should continue to push for the digital development of logistics systems to help improve storage capacity, response speeds and impact resistance, said Xi. Circulation efficiency is as valuable as production, and efficient circulation would increase transactions and deepen the specialization of labour, Xi said. China hopes to build a dual-promotion cycle in supply and demand, production and sales, and to create a market- and law-based international business environment to increase competitiveness, according to the meeting. Improving China's high-speed rail capacities and international cargo flights is crucial in building a unified and open transport system, the meeting stressed.