China's rail freight declines in Jan-Aug

BEIJING - China's national rail freight volume, an indicator of economic activity, declined in the first eight months of the year, the country's top economic planner said Wednesday.

Rail freight volume between January and August fell 6.3 percent year on year to 2.115 billion tons, compared with a 3.2 percent rise in the first seven months, according to the National Development and Reform Commission.

In August, rail freight volume rose 0.1 percent year on year to 277million tons, it said.

China's economic growth held steady at 6.7 percent in the second quarter, still the lowest level since the 2009 global financial crisis but within the government's target range for 2016.

Although downward pressure persists, economic indicators have suggested some stabilization.

China's industrial profits rose 19.5 percent year on year to 534.8 billion yuan (about $80.3 billion) in August, official data showed Tuesday.

The growth rate was faster than the 11 percent increase registered one month earlier, according to the National Bureau of Statistics.

In the first eight months of the year, industrial profits expanded 8.4 percent year on year, compared with a 6.9 percent rise during the January to July period.