China's State Council issued a notice to step up measures to support the development of the circulation industry, which includes logistics, wholesale and retail, in a bid to improve efficiency and boost domestic consumption.

The notice says the central government should enhance fiscal policies that boost consumption and increase investments in the area. Financial institutions such as banks are encouraged to create products to help finance companies active in the sector.

To lower the costs in the circulation industry, the notice says tax burdens on the wholesale market of agricultural products and land will be eased, and some other fees will be eliminated. The notice also requires supervision be strengthened on toll fees.