China's freight outperforms passenger transport under pandemic: Fitch

In the third quarter this year (3Q 2022), passenger turnover by road, rail and air was 30 per cent, 56 per cent and 43 per cent respectively of the levels in 3Q 2019 due to pandemic-related mobility restrictions.

In contrast, freight turnover during that quarter by road, rail and water was 92 per cent, 117 per cent and 110 per cent of 3Q 2019 levels, as provinces aim to safeguard logistics to limit the impact on daily life and industrial supply chains even under lockdowns, Fitch noted.

Freight transport companies are, therefore, likely to keep outperforming peers in passenger transport in the short run, especially for road and rail, Fitch remarked.

ALCHEMPro News Desk (DS)