China's policy bank extends 21.1 bln yuan of loans to support logistics building

China Development Bank, one of the country's policy banks, extended 21.1 billion yuan (US$3.19 billion) in the first quarter to support the country's logistics system.

The loans went toward construction of national logistics hubs, cold-chain logistics bases and international logistics supply chains, the bank said.

For instance, in the first quarter, the Shenzhen branch of the bank issued 700 million yuan of loans to SF Express to help the delivery giant overcome financial difficulties, so that it can continue to play an important role in the transportation of epidemic prevention materials, vaccines and living materials.

For the next step, the bank has pledged more precise and flexible financial services to support the construction of the country's modern logistics system.