Xinhua | December 4, 2024
China has released a plan to build a modern commercial circulation system that integrates domestic and global markets, bridges urban and rural areas, aligns production with sales and ensures efficient operations.
The plan, scheduled to be completed by 2027, was issued by nine state organs including the Ministry of Commerce.
To ensure timely completion, the country will further improve its logistics and distribution systems covering counties, townships and villages, and accelerate the growth of new business models like livestream e-commerce.
Efforts will be made to create various digital supply chain service platforms and foster an array of globally competitive enterprises in the circulation sector, according to the plan.
The plan also outlines measures to increase tax and financial support and launch pilot programs to help the modern commercial circulation system take shape.
China's logistics sector has seen a continuous expansion in recent years, with this year's total social logistics expected to reach approximately 360 trillion yuan (about 50.7 trillion U.S. dollars), according to a report by the China Federation of Logistics and Purchasing.