Briefly

Logistics efficiency improved in H1

China's logistics sector reported improvements in overall efficiency during the first half of this year, official data showed. The ratio of social logistics cost to GDP, a key indicator of the sector's cost efficiency, stood at 14 percent in the first six months of the year, down 0.1 percentage points from that in the first quarter and 0.2 percentage points year-on-year, said the National Development and Reform Commission. This indicates the initial results achieved in reducing logistics costs throughout society, according to the commission.

Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 48 pips to 7.1467 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. 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