China cuts rail freight fees

BEIJING - China started to lower rail freight fees Monday to support the real economy, according to China Railway Corporation.

Fee cuts are expected to amount to about 6 billion yuan (around $893 million) per year.

The move came after a sequence of measures unveiled by the country from 2017 to reduce rail freight fees by more than 20 billion yuan.

The country also announced plans to lower value added tax for rail freight on Monday.