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Rail cargo volume continues to rise in January

Xinhua, February 22, 2017 Adjust font size:

China's railway freight volume continued to rise in January, pointing to stabilizing economic activity, official data showed Wednesday.

Rail cargo volume grew 10.4 percent year on year in January to reach about 311 million tonnes, marking the sixth consecutive monthly rise, data from the National Bureau of Statistics showed.

China's rail cargo volume started to increase in August after a six-month subdued period. Overall, rail cargo volume fell 0.8 percent year on year in 2016 to reach 3.33 billion tonnes.

In addition to GDP, rail cargo volume, electricity consumption and lending are important indicators of economic expansion as they represent the vigor of economic activities.

Chinese banks extended 2 trillion yuan (about 291 billion U.S. dollars) of new yuan loans in January, doubling from a month earlier, with more going to industrial firms than the property sector. Endi