Core Insights - The transportation sector in China has shown a positive trend in economic performance during the first seven months of the year, with stable growth in freight volume and inter-regional passenger flow [1] Freight Volume Performance - In July, the operating freight volume reached 4.97 billion tons, marking a year-on-year increase of 3.4%, with a month-on-month acceleration of 0.5 percentage points [1] - From January to July, the total operating freight volume was 33 billion tons, reflecting a year-on-year growth of 3.8% [1] Mode-Specific Growth - By mode of transport, the year-on-year growth rates for freight volume in July were as follows: railways at 4.5%, highways at 3.3%, waterways at 3.4%, and civil aviation at 15.3% [1] Investment Trends - The scale of fixed asset investment in transportation remains high, indicating ongoing confidence and commitment to infrastructure development within the sector [1]

Economic Overview - The transportation industry has maintained overall stability and progress in the first half of 2025, contributing to employment, business stability, market stability, and expectations [1] Freight Volume - The total operating freight volume reached 280.3 billion tons, marking a year-on-year increase of 3.9%. By mode, railway, road, waterway, and civil aviation freight volumes grew by 1.8%, 4.0%, 4.3%, and 14.6% respectively. Notably, the ocean freight volume completed by Chinese shipping companies increased by 9.4% year-on-year [1] - Express delivery business volume reached 956 million pieces, reflecting a year-on-year growth of 19.3% [1] Port Operations - Port cargo throughput maintained growth, totaling 8.9 billion tons, with a year-on-year increase of 4.0%. Domestic and foreign trade throughput grew by 5.0% and 1.8% respectively [3] - Container throughput reached 17 million TEUs, with a year-on-year increase of 6.9%. Domestic and foreign trade container throughput increased by 4.0% and 8.9% respectively [3] Passenger Travel - Cross-regional passenger flow reached 33.76 billion person-times, with a year-on-year increase of 4.2%. By mode, railway and civil aviation passenger volumes grew by 6.7% and 6.0% respectively, while waterway passenger volume decreased by 2.5%. Notably, international civil aviation passenger volume surged by 28.5% year-on-year [3] Investment in Transportation - Transportation fixed asset investment remained high, totaling 1,647.4 billion yuan. Investments in railway, road, waterway, and civil aviation were 355.9 billion yuan, 1,129.1 billion yuan, 109.3 billion yuan, and 53.1 billion yuan respectively [3]

Core Viewpoint - The Ministry of Transport reported stable growth in key indicators of the transportation industry, including freight volume, port cargo throughput, and passenger flow, with overall transportation investment remaining stable [1] Group 1: Freight Volume - In April, the total operating freight volume reached 5.03 billion tons, representing a year-on-year increase of 4.3% [1] - The road freight volume accounted for 3.75 billion tons, with a year-on-year growth of 4.1% [1] - The waterway freight volume was 860 million tons, showing a year-on-year increase of 4.9% [1] Group 2: Cumulative Freight Volume - From January to April, the total operating freight volume amounted to 18.09 billion tons, reflecting a year-on-year increase of 4.7% [1] - The cumulative road freight volume reached 13.24 billion tons, with a year-on-year growth of 5.0% [1] - The cumulative waterway freight volume was 3.17 billion tons, indicating a year-on-year increase of 4.9% [1]