China Development Bank issues over 40 bln yuan of mid, long-term loans for logistics sector in 2023

This aerial photo taken on Nov. 8, 2023 shows robots sorting and conveying parcels at an intelligent logistics center in Deqing County, east China's Zhejiang Province. (Photo by Ni Lifang/Xinhua)

BEIJING, Feb. 17 (Xinhua) -- China Development Bank (CDB) said it had issued over 40 billion yuan (about 5.63 billion U.S. dollars) of medium and long-term loans in 2023 for the logistics sector.

These funds are mainly aimed at supporting major logistic projects located in cities serving as the national logistics hubs or backbone cold-chain logistics bases, the bank said.

The CDB added that it will continue to provide high-quality and efficient financial services for building a modern logistics system.

China's logistics industry reported steady expansion in 2023, with the average prosperity index increasing 3.2 percentage points from 2022 to 51.8 percent, according to data released by the China Federation of Logistics and Purchasing.