Chinese enterprises should invest more on the development of circulatory economy and put more advanced technology into use, said a high-ranking official Thursday during a summit forum on circulatory economy in China.

More attention has been paid to the recycled development of resources and economy, while input on the circulatory economy and its economic value are far neglected, said Xun Huanzhong, chairman of the supervisory board for key large State-Owned Enterprises of the State Council.

Ignorance of the investment may lead to a lack of impetus for the market-oriented economy, Xun reminded attendees of the 8th Summit Forum on Development of Circulatory Economy in China at the ongoing 16th China Beijing International High-Tech Expo, as it hinders the application of advanced technology and weakens the dynamic of developing circulatory economy in an enterprise.

The country is advised to build a sound policy-making mechanism on the development of circulatory economy, according to Xun.

Supportive policies to back up the mechanism and laws and regulations to supervise its implementation are also indispensible and may stimulate Chinese enterprises to put more money into the circulatory industry and economy.

Xun Huanzhong, chairman of the supervisory board for key large State-Owned Enterprises under the State Owned Assets Supervision and Administration Commission of the State Council, addresses the 8th Summit Forum on Development of Circulatory Economy in China in Beijing, May 23, 2013. [Photo/chinadaily.com.cn]