Briefly

China-Laos rail cargo transport hits record

The China-Laos Railway has transported over 14 million metric tons of imported and exported goods, amounting to more than 60 billion yuan ($8.4 billion), since its opening in December 2021, according to Kunming Customs on Wednesday. The railway's cross-border freight volume exceeded 3.43 million tons with a value surpassing 15.4 billion yuan in the first seven months of this year, up 6 percent and 41 percent year-on-year, respectively, both of which are record highs for this period.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 64 pips to 7.1345 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 dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

China Daily - Xinhua