Briefly

Auto sector posts strong growth in Nov

China's auto production rose 11.1 percent year-on-year in November, while sales climbed 11.7 percent from a year earlier, data showed on Wednesday. In the first 11 months of 2024, auto production exceeded 27.9 million units, up 2.9 percent year-on-year, while sales expanded 3.7 percent to 27.94 million units, said the China Association of Automobile Manufacturers.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 53 pips to 7.1843 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 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