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Xiaomi CEO: Commodity circulation needs reform

By Hou Liqiang | chinadaily.com.cn | Updated: 2017-03-05 13:49

Lei Jun, deputy to the National People's Congress, called on the government to attach more importance to reforms on commodity circulation while continuing the supply-side structural reform.

"Generally, the country has moved forward very fast on supply-side structural reform," said Lei, also founder and CEO of Xiaomi Corp.

He said, however, the government should also pay attention to commodity circulation. "Though we have good supplies in stores, the high commodity circulation cost has resulted in high commodity price, which makes consumers hesitant to buy."

"Currently, consumers have to pay five and even 10 times of the cost price to buy commodities in stores. Consumers pay a lot to circulation," he said.

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