Xi Jinping Emphasizes Importance of Equipment Updates and Logistics Cost Reduction
In a recent meeting of the Central Financial and Economic Commission, Chinese President Xi Jinping stressed the need to promote a new round of large-scale equipment updates and trade-in of consumer goods to effectively reduce logistics costs for the whole society.
During the meeting, which was attended by high-ranking officials including Li Qiang, Cai Qiding, and Xue Xiang, Xi Jinping highlighted the significance of accelerating product upgrading as a key measure to promote high-quality development. He emphasized the importance of encouraging and guiding a new round of large-scale equipment updates and the replacement of old consumer goods with new ones.
Logistics was also a focal point of the discussion, with Xi Jinping stating that it is the “string” of the real economy, connecting production and consumption, domestic trade, and foreign trade. The goal is to reduce the logistics costs of the whole society, enhance industry competitiveness, and improve economic efficiency.
The meeting involved reports from various government departments on large-scale equipment updates, trade-in of consumer goods, and strategies to reduce logistics costs. It was noted that implementing these measures will promote investment and consumption, leading to benefits in the short and long term.
To achieve these goals, the meeting stressed the importance of promoting the updating and technological transformation of production and service equipment, encouraging the trade-in of traditional consumer goods, and strengthening recycling efforts. The focus is on creating a sustainable “replacement + recycling” logistics system to benefit consumers and the economy.
Reducing the logistics costs of the whole society was identified as a crucial step in improving economic efficiency. This includes optimizing transportation structures, promoting reforms, and reducing transportation, warehousing, and management costs. Efforts will also be made to develop new logistics models that combine platform economy, autonomous driving, and other innovations.
Overall, the meeting underscored the importance of equipment updates and logistics cost reduction in advancing economic development and efficiency. Members of the Central Financial and Economic Commission and relevant department officials were in attendance to discuss and strategize the implementation of these key initiatives.