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China's CDB issued loans over $5.63 bn for logistics sector in 2023

19 Feb '24
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

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  • The China Development Bank issued medium- and long-term loans worth over $5.63 billion for the logistics sector last year, it said.
  • These funds were primarily aimed at supporting major logistic projects in cities serving as national logistics hubs or backbone cold-chain logistics bases.
  • The country's logistics industry reported steady expansion last year.
The China Development Bank (CDB) issued medium- and long-term loans worth over 40 billion yuan ($5.63 billion) for the logistics sector last year, it said.

These funds were primarily aimed at supporting major logistic projects in cities serving as national logistics hubs or backbone cold-chain logistics bases, the bank was cited as saying by a state-controlled news outlet.

The country’s logistics industry reported steady expansion last year, with the average prosperity index increasing by 3.2 percentage points from 2022 to 51.8 per cent, data from the China Federation of Logistics and Purchasing showed.

Fibre2Fashion News Desk (DS)

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