Briefly

SAIC-GM JV posts strong NEV sales in H1

SAIC-GM-Wuling, a joint venture between SAIC Motor, General Motors and Liuzhou Wuling Motors, reported sales of 243,000 new energy vehicles in the first six months of this year, up 35.5 percent year-on-year and accounting for nearly 38 percent of the JV's total auto sales.

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 1 pip to 7.1334 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 US dollar 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