Auto market posts strong growth in H1

China's auto production and sales logged double-digit increases in the first half of the year, a sign of vibrant domestic consumption in the world's second-largest economy, data from the China Association of Automobile Manufacturers showed on Thursday. The country's auto output totaled 15.62 million units during the period, up 12.5 percent from a year ago, while auto sales rose 11.4 percent to 15.65 million units. The CAAM saw increased vitality in the auto market, driven by various factors, including the country's stable economic growth and the consumer goods trade-in program.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 31 pips to 7.1510 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