June 16, 2022

China allocates over US$200 million to support cold chain and build national logistics hub

China's National Development and Reform Commission said the country has allocated CNY 1.4 billion (~US$207.35 million; CNY 1 = US$0.15) to support cold chain for meat processing and distribution, and build a national logistics hub in the new year, Nasdaq reported.

The country's state planner said the funds will be used to fund projects such as cold chain logistical facilities for meat processing and distribution, as well as public cold chain warehouses.

The move comes as China fights its worst COVID-19 outbreaks since the beginning of 2020, which have severely disrupted transportation and logistics across the country, causing significant economic damage.

-      Nasdaq