Briefly

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 8 pips to 7.0723 against the US dollar on Monday, 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.

Auto sector reports growth momentum

China's automobile industry has revealed a growth trend, with the production and sales of vehicles increasing steadily in the first nine months of 2024, data from the China Association of Automobile Manufacturers showed. From January to September, China's auto production totaled about 21.47 million units, up 1.9 percent year-on-year. Auto sales stood at 21.57 million units, an increase of 2.4 percent from the same period last year.

Xinhua - China Daily