Auto market maintains strong growth

China's auto production and sales logged double-digit increases in the first five months of the year, a sign of vibrant consumption in the world's second-largest economy. The country's auto output totaled 12.83 million units during the period, up 12.7 percent from a year ago, while auto sales rose 10.9 percent to 12.75 million units, the China Association of Automobile Manufacturers said. In particular, new energy vehicles production surged 45.2 percent year-on-year to nearly 5.7 million units in the first five months, with sales up by 44 percent year-on-year to 5.61 million units.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 12 pips to 7.1803 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