Briefly

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 160 pips to 7.087 against the US dollar on Wednesday, 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.

Changan expands AVATR to Thailand

Changan Automobile officially launched its premium electric vehicle brand AVATR in Thailand on Tuesday, in a move to expand its presence in the Southeast Asian country's upscale automotive market. The introduction of the AVATR 11, an SUV coupe, marks Changan's fourth model in the country, following launches of the Deepal L07 and S07 last year and the Lumin L earlier this year.

Xinhua - China Daily