China’s Economy Stays Resilient
China’s railway freight volume, an indicator of broad economic activity, expanded at a faster pace in the first seven months of 2018, notes a Xinhua report.
China’s railways carried a total of 2.3 billion metric tons of cargo between January and July 2018, up 7.9 percent from one year earlier, according to National Bureau of Statistics data. The growth accelerated from the 7.7-percent rise registered in the first half of 2018, and 7.2-percent increase for January through May. In July alone, railway freight climbed 8.7 percent year on year to 337.12 million metric tons.
Rail, road, water, and air carried a total of 27.54 billion metric tons of cargo in the first seven months, up 6.8 percent year on year.
The data adds to indicators that show resilience in China’s economy, which recorded strong growth of 6.8 percent in the first half of 2018, on track to achieve the government’s annual target of 6.5 percent.