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Slowing economy means flat rail cargo volume for 2009

(Xinhua)
Updated: 2009-01-12 20:15

The Ministry of Railways (MOR) forecast Monday that rail cargo volume would be flat this year, compared with 2008.

The estimate reflected a downturn in demand in the world's fastest-growing economy, according to the ministry.

Related readings:  China's northern passenger railway on trial run  Beijing-Shanghai high-speed railroad nears completion  China issues $2.9b bonds for railway construction  Beijing-Shijiazhuang railway under construction

The ministry said it would rely more heavily on passenger transport to offset any weakness in cargo. The MOR forecast railway passengers would increase about 10 percent to reach 1.61 billion trips this year.

Cargo marketing staff would offer better, simpler services, the ministry said.

The MOR will also seek new growth in the northeastern, northwestern and southwestern regions, outside of the long-time boom areas in the south and southeast coastal areas.

The MOR said at the end of last month that about 1.46 billion passenger trips were made last year, up 10.9 percent year-on-year, and 3.3 billion tons of cargo were carried, up 4.9 percent.