June 2, 2020 / 1:12 PM / a month ago

China to encourage mergers among large logistics firms

HONG KONG, June 2 (Reuters) - China will encourage large logistics firms to merge in order to enhance their competitiveness and capabilities, the cabinet said in a statement on Tuesday.

It will also support the construction of major logistics hubs through funding such as special bonds issued by local governments, as well as encouraging banks to step up financing for logistics firms, the statement said. (Reporting by Stella Qiu and Roxanane Liu in Beijing, Meg Shen in Hong Kong; Editing by Kevin Liffey)

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