China Passenger Rail Traffic Hits Record, Outpacing Freight as Commodity Demand Slides
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Passenger traffic on China’s railroads hit a record high in the first half of this year, outpacing cargo growth, reflecting a continued downturn in the freight market as demand for key commodities like coal declines.
Railway passenger trips rose 18.4% year-on-year to nearly 2.1 billion, according to the latest data from the National Railway Administration. Both the figure and passenger turnover — the number of passengers multiplied by the distance traveled — hit record highs, the state-run Xinhua News Agency reported, citing China State Railway Group Co. Ltd., or China Railway in short.
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- Railway passenger trips in China increased by 18.4% year-on-year to nearly 2.1 billion in the first half of the year.
- In contrast, rail freight volumes grew only 0.6%, with China Railway shipping 1.92 billion tons, a 0.4% decrease compared to the previous year.
- Sluggish domestic demand for raw materials and declining coal prices reflect a continued downturn in the freight market.
- China State Railway Group Co. Ltd.
- China State Railway Group Co. Ltd., also known as China Railway, operates the majority of China's rail network. In the first half of this year, the company saw a record rise in passenger traffic by 18.4% to nearly 2.1 billion trips. However, its freight volume decreased by 0.4% year-on-year, shipping 1.92 billion tons of cargo. The company faces added pressure to meet its annual freight target due to weak domestic demand for raw materials.
- Daqin Railway Co. Ltd.
- Daqin Railway Co. Ltd. operates the Datong-Qinhuangdao Railway, a major corridor for China’s west-to-east coal shipments. The company reported carrying about 30.8 million tons of cargo in June, a 14.61% decrease from the previous year. This decline contributed to a 7.05% drop in total shipments in the first half of the year.
- First half of 2024：
- Passenger traffic on China’s railroads hit a record high, outpacing cargo growth.
- First half of 2024：
- State-owned China Railway shipped 1.92 billion tons of cargo, down 0.4% year-on-year.
- First half of 2024：
- The Datong-Qinhuangdao Railway carried about 30.8 million tons of cargo in June, down 14.61% from a year earlier.
- First half of 2024：
- Total shipments on the Datong-Qinhuangdao Railway fell 7.05%, widening from 0.77% in the same period last year.
- Early July 2024：
- Prices of five out of seven major types of coal declined as much as 2.6% year-on-year.
- 2024：
- Railway passenger trips rose 18.4% year-on-year to nearly 2.1 billion.
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