Briefly

State builder charts milestones

China Railway 24th Bureau Group, a unit of centrally administered China Railway Construction Corp, said its construction teams in Jiangsu province have achieved progress in several key projects, including the construction in major urban districts in Yancheng, Suqian Port special railway and a cross-river conduit project in Nantong. "Prioritizing project quality and construction safety, our teams will spare no efforts to strive for faster construction progress on infrastructure key to local development in Jiangsu," a project manager of CR24's Jiangsu company said.

Tesla battery factory project launched

US carmaker Tesla Inc officially launched its new mega battery factory project in Shanghai that is capable of producing 10,000 Megapacks a year, the company said. A signing ceremony for land acquisition was held on Friday morning in the city, marking the official opening of what the company said was a "milestone project." Megapack is a powerful battery that provides energy storage and support, helping to stabilize the grid and prevent outages, according to information on Tesla's website.

RMB strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 59 pips to 7.0953 against the US dollar on Friday, 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.

Xinhua - China Daily