China's rail freight volume up 11.8 pct in January

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

Railways transported 324 million tonnes 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 tonnes, 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.