Briefly

Auto JV reports strong H1 sales

SAIC-GM-Wuling, a joint venture between SAIC Motor, General Motors and Liuzhou Wuling Motors, said that its global sales rose 18.3 percent year-on-year to 764,544 units in the first half of 2025, fueled by robust demand for new energy vehicles and surging exports. NEV sales totaled 413,314 units during the period, six consecutive months of over 50 percent year-on-year growth. Exports totaled 125,539 units or sets from January to June, up 17.1 percent from the year before, with NEV exports soaring more than 200 percent for three straight months.

Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 12 pips to 7.1546 against the US dollar on Wednesday, 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