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China railway freight up in March

04-10-2012 10:41 BJT

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Despite a gloomy macro environment, the amount of goods China's freight trains delivered daily in March hit a record high. But as Xia Cheng finds out, economists say the outlook for the sector remains cautious.

With the roaring of the train, another shipment of cargo is on its way to delivery.

In March, Chinese railway freight volumes were steady, while other sectors of the economy slowed.

Zhong Wei, director of Financial Research Center at Beijing Normal University said, "In March, China’s economy saw little new investment and less consumption, while the companies made less profits and paid small amount of tax. The industrial added value was also very low. Under such circumstances, the booming railway freight business did not come easy."

Last month, the total haul volume was up 2% year on year. On average, 172,000 freight trains were used to deliver over 11 million tons per day.

However, the increased departures still couldn’t meet high demand. Daily train demand in March hit 228,000, up 37,000 from February.

But some economists are keeping a cautious outlook on the sector.

Lian Ping, chief economist of Bank of Communications said, "Though freight volumes hit new heights, but the increase is not significant, only 2 percent. If we take out the seasonal factors, the overall economy is not active enough, compare with previous years."

But, some analysts note that the decent performance in China’s freight sector, as well as gradual PMI increases in the first quarter could mean that the nation’s economic growth will remain steady.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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