In a strategic move to accelerate economic growth, Xi Jinping, the Chinese premier and leader of the Communist Party of China Central Committee, emphasized the importance of large-scale equipment renewals and trade-ins of consumer goods during a recent meeting of the Central Commission for Financial and Economic Affairs.
Xi highlighted that updating products is crucial for promoting high-quality development. By encouraging the trade-in of outdated consumer durables like automobiles and home appliances, the initiative aims to boost both investment and consumption, fostering a more dynamic economic environment.
The meeting also focused on reducing logistics costs as a key measure to enhance economic efficiency. Strategies include lowering transportation, warehousing, and management expenses, while promoting a shift in freight transportation from highways to railways and waterways. Additionally, the development of new logistics modes, such as platform economy integrations and unmanned vehicles, is being encouraged to modernize the supply chain.
Emphasizing sustainability, the commission called for recycling waste resources and increasing the availability of high-quality consumer durables to residents. These efforts are expected to not only stimulate the economy but also support environmental goals by minimizing waste and optimizing resource use.
Infrastructure development remains a priority, with plans to enhance transportation networks and expand the airport and port economies. These advancements aim to create a more efficient and resilient logistics system, capable of supporting China's real economy and the needs of its population.
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Xi stresses promoting equipment renewal, trade-in of consumer goods
cgtn.com
