Briefly

Rising urbanization rate over past decades

China's urbanization rate, which measures the ratio of permanent city dwellers relative to the total population, rose by 55.52 percentage points from the end of 1949 to 66.16 percent by the end of 2023, said the National Bureau of Statistics. Over the past 75 years since the founding of the People's Republic of China, the country has undergone the largest and fastest urbanization process in world history.

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 21 pips to 7.0510 against the US dollar on Tuesday, 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.

Xinhua - China Daily