ACU May Final Draft LR

4.86 billion tons of
road freight in China
in 2 months
BEIJING: China’s Ministry of Transport says
some 4.86 billion tons of cargo were transported
through the country’s roads for the first two
months of the year, up by 4.1 percent year-on-year.
The Transport Ministry said north China's Hebei
Province saw road freight growth of 11.7 percent,
the highest among all provincial-level regions.
Freeway freight volume increased 6.2 percent
year-on-year in the first two months to 2.02 billion
tons, it added. In the same period, the amount of
cargo transported by water rose 7.8 percent to 1.07
billion tons, according to the ministry.
The Chinese government continues to boost
China’s economy amid continued trade dispute
with the United States.
Last month, China’s central bank pumped in
some 200 billion yuan (about USD29.72 billion)
into its market via the medium-term lending facility
(MLF) to maintain liquidity in the banking system at
reasonably sufficient level, according to the
People's Bank of China (PBOC).
The MLF tool was introduced in 2014 to help
commercial and policy banks maintain liquidity by
allowing them to borrow from the central bank
using securities as collateral. The funds will mature
in one year at an interest rate of 3.3 percent,
Chinese news agency Xinhua reported.
In April, the PBOC did not inject funds through
pledged supplementary lending (PSL) to the China
Development Bank, the Export-Import Bank of
China and the Agricultural Development Bank of
China. Total outstanding PSL loans in the first three
months amounted to 3.54 trillion yuan.