China's transport sector registers steady growth in Q1: ministry

China's transport economy has maintained overall stability in the first quarter of this year, with major indicators including freight volume and port cargo throughput sustaining relatively fast growth, data released by the Ministry of Transport showed on Tuesday.

The data indicated that China's commercial freight volume totaled 13.19 billion tons in the first quarter, up 4.1 percent year on year.

Freight volumes carried by railway, road, waterway, air transport and postal services all registered notable year-on-year growth during the period.

In terms of port cargo throughput, China's ports handled 4.39 billion tons of cargo in the first quarter, representing a year-on-year increase of 4 percent, while container throughput rose 8 percent year on year.

Meanwhile, China's transport fixed-asset investment remained at a high level in the first quarter, reaching 651.9 billion yuan (about 95.54 billion U.S. dollars).

Breakdown of the figures showed that railway investment totaled 137.9 billion yuan, highway investment reached 443.7 billion yuan, waterway investment stood at 49.3 billion yuan, and civil aviation investment amounted to 21.1 billion yuan.

The Bank of Japan (BOJ) slashed Japan's economic growth forecast for fiscal year 2026 to 0.5 percent, half of the 1.0 percent projection it made in January, according to its latest Economic and Price Outlook report released on Tuesday.

At the same time, the central bank raised its core consumer price index (CPI) inflation forecast, excluding fresh food, for fiscal year 2026 from 1.9 to 2.8 percent.

The BOJ also announced the same day that it would keep its policy rate unchanged at around 0.75 percent.

The decision came as the bank noted that escalating tensions in the Middle East have driven up international oil prices, and the impact on Japan's economy still requires further monitoring.