Briefly

Cross-border RMB use surges in Hainan

Hainan province recorded 326.8 billion yuan ($46 billion) of cross-border renminbi transactions in 2023, representing a 122.9 percent year-on-year increase, said local authorities on Wednesday. It marked the first time the province had seen its cross-border RMB use account for over half of its total cross-border settlements in both domestic and foreign currencies, said Huang Ge, deputy head of the Hainan branch of the People's Bank of China.

Hongqi vehicle sales soar in Jan

Hongqi, a car brand under China's leading automaker FAW Group Co Ltd, sold more than 40,000 vehicles in January, up 82.9 percent year-on-year, the group said on Thursday. The brand alone recorded accumulated sales of 370,000 units last year, up 29.5 percent compared with 2022.

Xinhua