Briefly

Drone industry reports rapid growth in H1

China's drone industry has experienced rapid development, with a massive surge in the number of newly registered unmanned aerial vehicles in the first half of 2024, Song Zhiyong, head of the Civil Aviation Administration of China, said at a news conference on Wednesday. Nearly 608,000 UAVs were newly registered during the period, up 48 percent from end-2023. The cumulative flight time of UAVs reached nearly 9.82 million hours in the January-June period, an increase of 134,000 hours over the same period last year.

Renminbi weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 32 pips to 7.1342 against the US dollar on Wednesday, said 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 greenback is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Xinhua - China Daily