Rail freight decline narrowsBy Agencies – Global Times Source:Global Times-Agencies Published: 2016/7/28 22:58:010
The pace of decline in China's national rail freight volume continued to narrow, indicating improved economic vigor as the economy showed signs of stabilization.
Rail freight volume for the first half of 2016 dropped 7.5 percent year-on-year, down from 7.7 percent for the first five months and 9 percent for the first quarter, the National Development and Reform Commission, the country's top economic planner, said Thursday.
China's GDP grew 6.7 percent in the second quarter, flat from the first quarter and within the target range of 6.5 to 7 percent.
Although downward pressure persists, economic indicators suggested some stabilization.
In June, profits of China's major industrial enterprises rose 5.1 percent year-on-year, widening from the 3.7 percent growth posted in May.
Retail sales rose 10.6 percent last month, a faster expansion from May's 10 percent growth.