National Railway Reports 2.7% YoY Revenue Growth and Record Profits in 2024

Published: Jan 2, 2025 13:31

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In 2024, the national railway achieved total transportation revenue of 990.18 billion yuan, up 2.7% YoY, with total profits reaching a record high. In 2024, the China State Railway Group deepened comprehensive budget management, strengthened the guiding role and rigid constraints of the budget, and enhanced cost control, saving 24.2 billion yuan compared to the annual budget. Key business sectors were promoted for healthy development, with non-transportation sectors achieving total profits of 34.54 billion yuan. The management of joint-venture railways was improved, with China Railway-controlled joint ventures generating overall profits of 24.58 billion yuan, up 28.2% YoY. Efforts were made to raise low-cost debt funds through market-oriented approaches and optimize the railway debt structure, resulting in an asset-liability ratio of 63.8% by the end of 2024, down 1.7 percentage points from the previous year-end.

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