NEV output, sales surge in January

China's new energy vehicles performed strongly, with production surging 29 percent year-on-year to 1.02 million units in January, industry data showed on Monday. NEV sales grew rapidly by 29.4 percent year-on-year to 944,000 units in January, accounting for 38.9 percent of total new vehicle sales last month, according to the China Association of Automobile Manufacturers. China's auto industry witnessed a steady start to the year, with both passenger car production and sales posting year-on-year increases in January.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 4 pips to 7.1702 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.

Xinhua - China Daily