Modern logistics development given emphasis

President Xi Jinping underlined on Wednesday the importance of developing a modern distribution system as support for a new development pattern, saying that China must foster logistics companies with global competitiveness.

In remarks delivered at a meeting of the Central Committee for Financial and Economic Affairs, Xi, who is head of the committee, underscored the fundamental role of the distribution system in the national economy and called for steps to develop new technologies and business models in the sector.

It is important to follow a new development philosophy, pursue high-quality development, deepen supply-side structural reform and enable the market to play a decisive role in the allocation of resources, said Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission.