Logistics efficiency continues improving

China's logistics efficiency continued to improve in 2024, with the ratio of social logistics costs to gross domestic product dropping to the lowest level in history last year, the National Development and Reform Commission said. The ratio stood at 14.1 percent for 2024, representing a decrease of 0.3 percentage point from the previous year, and reaching the lowest level since such statistics were first published in 2006.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 2 pips to 7.1691 against the US dollar on Thursday, 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