Briefly

Hainan sees surge in duty-free business

The southern Chinese island province of Hainan reported 49.5 billion yuan ($7.78 billion) of offshore duty-free shopping sales in 2021, up 80 percent year-on-year, with 6.72 million shoppers opening their wallets. Per capita shopping value registered at Hainan's offshore duty-free shops logged 7,368 yuan, up 20.2 percent year-on-year. Cosmetics, watches and jewelry were among the top three bestsellers at the shops.

Freight trains link Suzhou, Vientiane

A freight train route has been launched between Suzhou, a major export hub in East China, and the Lao capital of Vientiane, according to the train operator. A train carrying goods including electronics and auto parts with a total value of about 50 million yuan ($7.85 million) departed Suzhou on Tuesday and is expected to arrive in Vientiane in seven days, according to Suzhou International Train Freight Co Ltd.

New yuan loans increase in 2021

China's new yuan-denominated loans totaled 19.95 trillion yuan ($3.13 trillion) in 2021, up 315 billion yuan year-on-year, central bank data showed on Wednesday. In December alone, new yuan loans stood at 1.13 trillion yuan, down 123.4 billion yuan year-on-year, according to the People's Bank of China. The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 9 percent year-on-year to 238.29 trillion yuan at the end of 2021.

Xinhua