Briefly

Shanghai Jan-Oct foreign trade up 2%

Shanghai's imports and exports reached 3.51 trillion yuan ($490.1 billion) in the first 10 months of this year, up nearly 2 percent year-on-year, according to local Customs. Over this period, Shanghai's exports rose 2.3 percent year-on-year to 1.44 trillion yuan, while its imports increased by 1.6 percent to 2.07 trillion yuan. In the first 10 months, Shanghai exported 1 trillion yuan of mechanical and electrical products, up 4.4 percent year-on-year, accounting for 69.3 percent of the city's total export value in the same period. Meanwhile, Shanghai imported 473.59 billion yuan of consumer goods, up 9.6 percent year-on-year, amounting to 22.9 percent of the city's total import value.

China to cut gasoline, diesel retail prices

China will cut the retail prices of gasoline and diesel from Wednesday, based on recent changes in international oil prices, the country's top economic regulator said on Tuesday. Gasoline prices will be reduced by 340 yuan ($47.62) per metric ton, and diesel prices by 330 yuan per ton, the National Development and Reform Commission confirmed. Under the current pricing mechanism, prices of refined oil products are adjusted following changes in international crude oil prices.

Xinhua - China Daily