China focuses on modern, efficient logistics system as Beijing plots response to ‘grim and complicated’ outlook
- The Central Economic and Financial Affairs Commission, chaired by President Xi Jinping, gathered for the third time this year on Wednesday
- Premier Li Keqiang, Vice-Premier Han Zheng and China’s ideology tsar Wang Huning also attended the meeting
In the face of a “grim and complicated situation at home and abroad”, China is in need of a modern and efficient logistics system to enable both “domestic circulation” and “international circulation”, the country’s top economic task force has concluded.
The decision by the Central Economic and Financial Affairs Commission, which is headed by President Xi Jinping, is a sign that China will continue to spend heavily on infrastructure projects, including high-speed railway lines, airports and warehousing.
Premier Li Keqiang, Vice-Premier Han Zheng and China’s ideology tsar Wang Huning also attended Wednesday’s meeting as China again stepped up its efforts to build up a consensus over long-term economic strategies.
Xi said the commission, which was upgraded from the former central leading group on economic and financial affairs in early 2018, has made a slew of strategic decisions to achieve “significant results”.
Implementation must be done from a political high ground. The key is to generate actual results and meet the goals
“Many issues discussed and decided at the Central Economic and Financial Affairs Commission are long-term and strategic things that matter for the country’s economic and social development,” read a summary of the meeting published by the official Xinhua News Agency.