Briefly

Investment in rail construction up 10.8%

China has scaled up investment in railway construction since the beginning of the year, data from the country's railway operator showed on Tuesday. During the January-May period, fixed-asset investment in the country's railway sector reached 228.47 billion yuan ($32.12 billion), marking a 10.8-percent increase from the same period last year, according to China State Railway Group. The investment volume expanded from 184.9 billion yuan in the first four months of this year.

Renminbi weakens to 7.1135 against dollar

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 29 pips to 7.1135 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 dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

China Daily  Xinhua