Briefly

Tesla's factory starts key battery exports

Tesla's new Megafactory in Shanghai exported its first batch of Megapack energy-storage batteries on Friday, the company said. It took the new Megafactory just over a month after its production launch to achieve its first export, with the batteries being transported from Shanghai Port to Australia. This export highlights Tesla's further expansion in the global energy storage market, and also underlines the extension of its battery technology from electric vehicles to energy storage, the company said.

Local railway in Zhejiang sees progress

Construction of the Wenling-Yuhuan Railway has entered a new phase after a 30.88-meter-long, 234-metric-ton steel beam was hoisted into place over an existing railway line on Thursday, laying a solid foundation for the following beam installation and track laying processes, said State builder China Railway 24th Bureau Group Corp. Slated to open in 2026, the railway will serve as a key local link facilitating intercity travel in Zhejiang province, linking economic hubs like Wenzhou and Taizhou.

Renminbi weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 6 pips to 7.176 against the US dollar on Friday, 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