Premier Li Keqiang issued instructions for a national video conference on the modernization of the circulation industry - covering wholesale, retail and logistics - on Nov 2.

The Premier noted that the modernization of the industry is important to coordinate manufacturing and consumption, increase domestic demand and improve people’s lives.

Local governments and related departments should increase efforts to improve supporting polices and clear obstacles that hinder the construction of a unified national market, he said.

A new industry that integrates online and offline services should be developed and regulation and service level should be improved to create a regulated business environment, the Premier said.

Vice-Premier Wang Yang attended the meeting and delivered a speech.

He stressed the acceleration of the modernization of the industry which serves as a new engine to upgrade the economy and optimize resource allocation, a new platform to advance mass entrepreneurship and employment, a new platform for mass entrepreneurship and employment and a new media for promoting cultures.

The vice-premier emphasized that strengthened efforts should be made in areas such as e-commerce, circulation infrastructures, third-party logistics, intellectual property protection and credit system.

In recent years, China’s circulation industry witnessed great development as it ranks the second largest in terms of scale, Wang said.