Briefly

Guidelines emerge for 'internet of vehicles'

China has unveiled guidelines for setting the standards related to the internet of vehicles, as part of efforts to protect internet and data security of the industry. By the end of 2023, a system of network security and data security standards for the sector should be initially established, the Ministry of Industry and Information Technology said. The plan also said that the system should be further improved by 2025, with over 100 standards completed. The internet of vehicles is an emerging business form that integrates the new generation of network communications technology with the fields of automobiles, electronics and road transportation, among others.

Dairy output sees robust 2021 showing

China's major dairy producers registered robust growth in output last year, official data showed. In 2021, major dairy producers saw their output rise 9.4 percent year-on-year to nearly 30.32 million tons, according to data from the Ministry of Industry and Information Technology. In December alone, dairy production stood at 2.81 million tons, up by almost 12 percent year-on-year, data showed. Major dairy producers are companies with annual revenue of more than 20 million yuan ($3.16 million).

Warehouse storage sector expands in Feb

China's warehouse storage sector reported expansion in February, according to a survey jointly released by the China Federation of Logistics and Purchasing and CMST Development Co Ltd. The index tracking the sector's development rose 3 percentage points from January to 51.3 percent, returning to the expansion range, the survey showed. A reading above 50 percent indicates expansion, while one below 50 percent reflects contraction. The sector's performance in February was significantly better than that in the same period in recent years, indicating that the pressure of the sector has eased and market demand has remained relatively good, said Wang Yong, of CMST Development.

Beverage makers produce 12% more

Last year, China's major beverage producers－companies with annual revenue of more than 20 million yuan ($3.16 million)－registered double-digit or 12 percent growth in output to over 183 million tons, said the Ministry of Industry and Information Technology. In December alone, beverage output was 13.59 million tons, up 8.3 percent year-on-year.

China's NEV sales soar last month

Sales of new energy vehicles in China surged in February, driving the country's automotive market to accelerate its green transition, the China Passenger Car Association said on Tuesday. Last month, a total of 272,000 NEVs were sold in China, soaring 180.5 percent year-on-year. Chinese NEV manufacturers saw strong wholesale figures last month, with five recording wholesale figures above 10,000 units. China's leading NEV manufacturer BYD saw wholesale figures soar to 87,473 units, and Tesla China followed with 56,515 units last month, according to the association. The NEV market penetration rate stood at 21.8 percent last month, up from 9.6 percent during the same period last year, the association said.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 293 pips to 6.3185 against the US dollar on Tuesday, 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. The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Xinhua