Briefly

RMB takes record share in forex reserves

The share of the Chinese renminbi in global foreign exchange reserves has climbed to a record high in the fourth quarter of last year, according to the latest data from the International Monetary Fund. Claims in the renminbi accounted for 2.79 percent of the world's allocated reserves as at the end of the fourth quarter, up from 2.66 percent in the third quarter and hitting the highest level since the IMF started to release the reading in 2016. The renminbi's share ranked fifth among all reserve currencies, after the US dollar, the euro, the yen and the pound.

First intracity HSR starts laying tracks

The country's first intracity high-speed railway, running within Shandong's provincial capital of Jinan, started its tracklaying work on Thursday. Builders from State-owned China Railway No 4 Engineering Group Co Ltd are responsible for the job on the Jinan-Laiwu HSR, covering 227.46 kilometers for the main tracks and 27.76 km for station tracks. The railway, with six stations and trains running at 350 kilometers per hour, will usher in a travel time of 22.5 minutes from the starting point to the end of the route.