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Port traffic posts slow growth in China
Source: Xinhua |
November 25, 2011, Friday
|
Print Edition
Print Edition
GROWTH in port traffic fell slightly in China last month amid weak domestic demand, new data from the transport ministry show.
The total port cargo throughput stood at 780 million tons in October, up 12.6 percent year on year, according to the Statistical Bulletin on Communication from the Ministry of Transport.
But the growth figure was 0.7 percentage point lower than the September level, the bulletin showed.
In the first 10 months of this year, the country's port throughput expanded 13.6 percent annually to 7.55 billion tons, it said.
Chen Yi, a cargo expert, said the October growth was mostly supported by strong external trading. But a smaller increase in domestic cargo throughput growth was cited for October's slowdown.
Cargo throughput related to foreign trade activities surged 22.7 percent to 240 million tons last month from a year ago in Chinese ports.
Meanwhile, domestic cargo throughput only rose 8.7 percent in October from the same month last year. The figure was 6.7 percentage points lower than that of September, according to the ministry.
"The deceleration in domestic port activities was triggered by weak demand and increasing inventories," Chen said.
He predicted a further slowdown in port cargo throughput in the fourth quarter due to the harsh global conditions, a weaker domestic growth and high inventories of commodities.
The total port cargo throughput stood at 780 million tons in October, up 12.6 percent year on year, according to the Statistical Bulletin on Communication from the Ministry of Transport.
But the growth figure was 0.7 percentage point lower than the September level, the bulletin showed.
In the first 10 months of this year, the country's port throughput expanded 13.6 percent annually to 7.55 billion tons, it said.
Chen Yi, a cargo expert, said the October growth was mostly supported by strong external trading. But a smaller increase in domestic cargo throughput growth was cited for October's slowdown.
Cargo throughput related to foreign trade activities surged 22.7 percent to 240 million tons last month from a year ago in Chinese ports.
Meanwhile, domestic cargo throughput only rose 8.7 percent in October from the same month last year. The figure was 6.7 percentage points lower than that of September, according to the ministry.
"The deceleration in domestic port activities was triggered by weak demand and increasing inventories," Chen said.
He predicted a further slowdown in port cargo throughput in the fourth quarter due to the harsh global conditions, a weaker domestic growth and high inventories of commodities.
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