(Yicai Global) July 13 -- The decline in China’s transport sector started to bottom out last month as cargo levels began to return to normal after the disruption caused by the coronavirus outbreak, partly offsetting ongoing weakness in passenger transit flows.
The China Transportation Services Index, which reflects the overall state of the sector, stood at 153.9 points in June, down 11.5 percent from a year earlier, according to the China Academy of Transportation Sciences, broadcaster CCTV reported today. The drop was 5 percentage points less than that registered in May.
The cargo transport sub-index rose 5 percent to 184.2 points, 4.2 percentage points higher than in May, while the passenger transport sub-index fell 43.1 percent to 96.6 points, a 6.1 percentage point decline from May.
11.5 percent in June, and 16.5 percent in May
The easing impact of the Covid-19 pandemic and the recovery of production and life orders further pared the decline in the CTSI, said Zhou Jian, deputy director of the research consultation department under the Beijing-based academy.
The cargo sub-index rose faster than May’s 0.8 percent pace, which was basically the same as that of all of last year and last June, showing that the sector has returned to normal growth overall and its original development track, Zhou added.
Editor: Ben Armour