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China to accelerate building of 'modern circulation system' of businesses, logistics and transport

2022/1/25 11:48:20   source:CGTN

China will accelerate the building of a "modern circulation system," covering business circulation, logistics, transport and financial support, during the 14th Five-Year Plan period (2021-2025), according to a plan released by the National Development and Reform Commission on Monday.

Entering the new era, the country's traditional circulation system needs upgrading as the circulation of agricultural products lags behind, transport infrastructure needs improvement and there are weaknesses in logistics services, such as emergency response and in cold chain. At the same time, the financing issues in the circulation field also need to be addressed, according to the plan.

The plan sets goals for 2025 and 2035. Circulation of business and trade will be more smooth, logistics facilities will be improved, and networks and service systems will become more complete by 2025. The country's transport capacity and the financial and emergency support capacity will also be significantly enhanced during the period, the plan states.

It says that the system, which will be safe, efficient and with a global reach, will be fully established by 2035.

Meanwhile, the country will cultivate high-quality and innovative circulation enterprises during the period, especially enhancing innovation and core competitiveness. Large and medium-sized enterprises will be guided to closely connect with each other based on the supply chain, data chain and value chain, and build a new circulation ecology of resource sharing and coordinated development, the plan says.

The plan also says e-commerce businesses should explore new consumption fields to expand online and offline marketing channels, and improve infrastructure and service network among counties, cities and abroad.

Moreover, the commodity market will be equipped with digital facilities, such as 5G networks and smart terminals, while a group of demonstration bases, covering online and offline markets, will be built with strong supply chain service functions.

Efforts will also be made to crack down on monopoly and unfair competition in the circulation field to safeguard market order. The country will promote the implementation of the detailed rules for fair competition review in the field, and strengthen the cross-regional law enforcement coordination mechanism. Third-party institutions in all departments and regions are encouraged to be involved in the review mechanism.

Furthermore, the country will guide the healthy development of new business forms, such as the platform economy and the sharing economy, to prevent the disorderly expansion of capital. The compliance management of circulation enterprises will be promoted, according to the plan. 

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