Economics
PBOC Urges Loans to Logistics Firms to Ease Supply Chain Pain
A worker wearing personal protective equipment (PPE) disinfects a truck entering JD.com Inc.'s Asia No. 1 Shanghai Jading Logistics Park facility in Shanghai on March 9.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s central bank pledged financial support for logistics firms and truck drivers to ensure the country can maintain supply chain stability amid the worst Covid outbreak in two years.
The People’s Bank of China will ask lenders to “reasonably” extend and renew loans for the industry, it said in a statement on Friday, following a central bank meeting on coordinating Covid controls and economic development.