China's cargo and container traffic growth slowed in August for the third straight month as the country's trade with Europe and the US cooled.
The country's container traffic rose 11 per cent to 10.9 million 20-foot equivalent boxes last month from a year earlier, the Ministry of Transport said on its website yesterday. That compared with 15 per cent and 16 per cent growth in July and June.
Ports in China will see a 'turning point' in 2008, with both investment and profit growth slowing in the years ahead, according to the National Development and Reform Commission.
China's trade growth may slow this year as the government battles to cool inflation domestically and US consumers buy fewer goods amid a collapsing housing market.
Shanghai International Port (Group) Co, the operator of China's busiest harbour, handled 507 million tons of cargo last month, 13 per cent more than a year earlier, according to the ministry. Cargo volume rose 15 per cent in July.
Container traffic will likely slow more than bulk shipments, such as iron ore and coal, Wang Ming, deputy director of integrated transport at the commission said on March 20.