China's rail freight volume up 11.8% in January

BEIJING - The volume of freight carried on China's railways hit a record high in January as economic activity steadily recovered.

Railways transported 324 million tons of cargo last month, up 11.8 percent year-on-year, according to data from the China State Railway Group Co Ltd (China Railway).

Transport of coal used for power generation amounted to 120 million tons, surging 23 percent year-on-year.

Rail cargo volume is widely seen as a key indicator for economic activities. The data came as China's economy is expected to see a faster recovery this year after ending 2020 on solid footing.

With a strong rebound in the fourth quarter, China's economy expanded 2.3 percent in 2020, becoming the only major economy to achieve positive growth in the pandemic-ravaged year.