China’s Railway Group records $81b in revenue in H1

China State Railway Group Co., Ltd. saw steady growth in the first half of 2024 with total operating revenue reaching 579.4 billion yuan ($81.46 billion) and a net profit of 1.7 billion yuan.

Passenger traffic surged with almost 2.1 billion railway trips, up by 18.4 per cent from the previous year. The average daily passenger trains operated rose by 9.4 per cent to 10,256.

In terms of freight transport, railways handled more than 1.92 billion tons of goods. This demonstrates the sector’s crucial role in supporting the country’s economy.

Investments in the railway sector remained robust, with fixed-asset investment reaching a record high of 337.3 billion yuan, a 10.6 per cent increase year-on-year.

The China-Europe freight train service continued to expand, transporting more than 1.04 million 20-foot equivalent units of goods, a 11 per cent increase compared to the same period last year.

Attribution: WAM

Subediting: M. S. Salama