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