Chinese policy bank increases support for logistics construction

BEIJING, May 21 (Xinhua) -- China Development Bank, one of the country's policy banks, has stepped up financial support for the construction of modern logistics.

Since the beginning of the year, the policy bank has issued loans worth 12.2 billion yuan (about 1.73 billion U.S. dollars) to boost the construction of national logistics hubs and cold chain logistics facilities, among others.

A branch of the bank has provided a total of 3.52 billion yuan of loans since 2022 for the building of an international logistics port in Hengyang City, central China's Hunan Province, helping build a logistics network that radiates across Hunan, Guangdong, Jiangxi, and Guangxi.

The bank pledged financial support to boost the development of modern logistics, focusing on promoting the major projects in key areas, including the national logistics hubs and regional logistics services network, said the bank.