China’s rail freight volume grows at faster pace

10-Sept-2018

China’s railway freight volume, an indicator of the broad economic activity, expanded at a faster pace in the first seven months of this year.

Railways carried a total of 2.29 billion tonnes of cargo during the January-July period, up 7.9 percent from one year earlier, according to data from the National Bureau of Statistics.

The growth accelerated from the 7.7-percent rise registered in the first half (H1) and 7.2-percent increase for January-May period.

In July alone, railway freight climbed 8.7 percent year on year to 337.12 million tonnes.

Rail, road, water, and air carried a total of 27.54 billion tonnes of cargo in the first seven months, up 6.8 percent year on year.

The data added to a series of indicators that showed resilience in the economy. The country’s economy recorded a strong growth of 6.8 percent in H1, on track to achieve the government’s annual target of around 6.5 percent for 2018.

Source: XINHUA