Briefly

Railway spurs economic growth

The China-Laos Railway has emerged as a catalyst for regional economic growth three years after its launch, China's railway operator said on Tuesday. The railway has handled over 43 million passenger trips and transported 48.3 million metric tons of cargo as of Monday, according to the China State Railway Group Co Ltd. The 1,035-km railway connects Kunming, capital of Yunnan province, with the Laotian capital of Vientiane.

Air freight volume hits record high

The volume of China's air cargo has reached a historic peak, fueled by robust growth in international air freight, an official with the Civil Aviation Administration of China (CAAC) said on Tuesday. Between January and October, the country's aviation sector handled nearly 7.3 million metric tons of cargo and mail, marking a 19.3 percent increase compared to the same period in 2019. Notably, international routes carried about 2.93 million tons of cargo and mail, up 48.5 percent from the same period in 2019.

Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 131 pips to 7.1996 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