China’s Banking and Insurance Regulatory Commission (CBIRC) and Ministry of Transport (MOT) on Tuesday vowed to initiate series of policies targeting finance and traffic channels to keep the operation of domestic logistics system running normally during the country’s latest omicron outbreak.
CBIRC said it will offer loans to transport service providers and small-sized companies. Payment terms for truck drivers will be extended and the loan service for major transport units or companies will be processed through green channels, said the commission in an article published on its official website.
The commission suggested specific insurance products developed for essential staff across the logistics system such as truck drivers and delivery riders, to assure their safety during service. CBIRC vowed to strictly prevent embezzlement of capital used for supporting logistics recovery.
The MOT suggested on Monday that domestic highways carry over 70 percent of nationwide logistics volume, thus the ministry asked highways and rest areas along the routes to remain open despite the epidemic in order to meet the basic demands of logistics workers.
The MOT also vowed to conduct specific quarantine measures to different areas to avoid “one-size-fits-all ” solution and enhance real time status monitoring.
As China’s National Development and Reform Commission said on Monday to corporate with multiple departments and authorities to create a loose space for logistics recovery, the recovery speed of the country’s virus-affected supply and industry chain will be accelerated.
Logistics company staff sort packages at a storage center in Qinhuangdao, North China’s Hebei Province on November 10, 2021 as huge amounts of goods flood in amid the Double 11 online shopping festival. Photo: VCG
