The mega logistics network requires building air logistics hubs with professional cargo airports located in areas that have a complete industrial chain, sufficient transportation modes and a promising development outlook.
The market size of cross-border e-commerce in China is projected to advance 21.4 percent to 620 billion yuan by 2019, according to the Boston Consulting Group, or BCG. The consultancy put Tmall Global's share of that market at around 25 percent, claiming the top spot for consecutive four years.
The meeting also stressed a reasonable layout for the city, with innovation in accordance with the regional culture and landscape.
The ministry said China will explore market-oriented ways to encourage the repair and reutilization of mining land as previous efforts had not worked due to insufficient investment.
The minimum holding period for such funds is three to five years, as the funds target long-term investment and prioritize lower volatility, said Fang Yitian, chairman of Wanjia Asset Management Co Ltd, a fund provider on Ant's platform.
The ministry estimated that the e-commerce market will reach 900 billion tenge by the end of 2020, and 1.9 trillion tenge by 2022, accounting for about 13 percent of the country's retail business, compared with 2.9 percent for 2019.
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The ministry will hold a promotional event in Hong Kong on Oct 25 for the issuance and then sell the bonds according to market conditions, Bank of China said in a statement on its website.
The meeting highlighted that building up a young and vitalized professional force should help improve the nation's governance system as well as promote the prosperity of the Party's undertakings, according to the statement.
The ministry and the National Development and Reform Commission, the country's top economic planner, will guide and help the other provincial regions draw red lines by the end of this year, according to the ministry.
The member states will remain committed to keeping the ASEAN market open for trade and investment, and will strengthen regional information sharing and coordination as well as collaboration in responding to the economic challenges posed by the outbreak, said the statement.