Briefly

Strong demand propels NEV revenue

New energy vehicle sales increased by 3.2 times on a yearly basis in China during the first two months of this year amid a steady recovery in market demand, data from the China Association of Automobile Manufacturers showed. In January and February, NEV sales amounted to 289,000 units. In February alone, NEV sales surged 5.8 times on a yearly basis to 110,000 units, the data showed.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 136 pips to 6.4970 against the US dollar on Thursday, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

Excavator firms see robust sales in Feb

China's 26 leading excavator makers sold 28,305 excavators in February, up 205 percent on a yearly basis, data from the China Construction Machinery Association showed. In breakdown, 24,562 excavators were sold in the domestic market, up 256 percent on a yearly basis, while exports rose 57.9 percent to 3,743 units.

Xinhua