Railway freight prices raised

The National Development and Reform Commission, the nation's price regulatory body, issued a notice to increase railway freight pricing from 0.12 yuan ($0.02) per ton-kilometer to 0.135 yuan from Saturday, Beijing-based Economic Information Daily reported Monday.

According to the report, the price hike could help the China Railway Corporation to increase its income by 40 billion yuan ($6.60 billion) annually.

Insiders said another price raise is likely, as the China Railway Corporation hopes to increase the freight pricing by 0.025 yuan per ton-kilometer.