CHINA posted a 7.4 per cent year-on-year increase in overall rail, road and waterway cargo volume in the first four months of the year, but the growth was 1.5 per cent slower year on year, according to the Ministry of Transport, reports Xinhua.

Passenger movements of rail, road and waterway in the period increased 4.9 per cent year on year, with the passenger turnover volume rising 4.2 per cent, which was 1.1 per cent and 3.2 per cent slower respectively year on year.

In terms of rail freight transport, railways posted a negative growth for months with the increase in freight rates.

While cargo volume through major Chinese ports increased five per cent year on year to 950 million tonnes in April, almost the same as during the first quarter when foreign trade volume rose 9.2 per cent year on year.

Overall, from January to April, China's major port cargo volume maintained a steady growth of 5.5 per cent year on year, and foreign trade cargo volume went up 8.6 per cent.

THE Baltic Dry Index (BDI), which tracks rates for ships carrying dry bulk commodities, plummeted 29.4 per cent in April month on month as rates continued to fall. China Coastal Bulk Freight Index (CBFI) fell 6.3 per cent month on month. China Containerised Freight Index (CCFI) fell 0.1 per cent month on month.

This reflected in China's economy at a growth rate of 7.4 per cent year on year in the first quarter of the year, recording a new low in past six quarters.

China's import and export value in the first four months declined 3.1 per cent year on year to CNY8.1 trillion (US$1.28 trillion). Of this, import and export value in April fell 1.3 per cent year on year to CNY2.2 trillion, but narrowing the decline 2.4 per cent compared to that in the first quarter.

China's overall investment in rail, road and waterway in the first four months increased 6.6 per cent to CNY428.3 billion. Its investment in April went down 1.2 per cent year on year to CNY150.1 billion, 6.2 percentage points down month on month.