Briefly

Japan's Ueda gets money brokerage nod

The China Banking and Insurance Regulatory Commission has given the green light to Tokyo-based Ueda Yagi Tanshi, a Japanese firm, to establish the first wholly foreign-owned money brokerage on the Chinese mainland, another step in the ongoing opening-up of the country's vast financial services sector. Tentatively known as Ueda Yagi Money Brokerage China, the new company will be based in the Tongzhou district of Beijing.

Record increases in freight trains to Europe

The number of China-Europe freight trains hit a record high of 1,247 in August, up 62 percent on a yearly basis, according to data from China State Railway Group Co Ltd. It marked the sixth consecutive month that the number of freight trains has registered double-digit growth. Freight trains have played a crucial role in helping stabilize the international logistics supply chain, transporting 113,000 twenty-foot equivalent units of cargo last month, up 66 percent from a year earlier, according to the company.

Xinhua - China Daily