Renminbi weakens against US dollar

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 10 basis points to 6.6162 against the US dollar on Tuesday, 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. and the increased flight frequency will help boost the development of outbound tourism and tourist arrivals in Kunming, according to AirAsia. The company’s air routes linking Kunming with other cities have carried a total of nearly one million passengers over the past five years, becoming the largest foreign airline by transport capacity at Kunming Changshui International Airport. three Boeing 747 planes went up for auction on Nov 21. SF Airlines purchased two of the aircraft, registered with the identification numbers B2422 and B2423, for more than 320 million yuan ($48 million). The third plane failed to find a buyer. According to Yue Yanni with the Shenzhen court, this is the first time aircraft have been offered in a Taobao auction in China. The freight planes were previously owned by Jade Cargo International, the first Chinese cargo carrier with foreign investment. The company folded in 2013. Monday due to a safety hazard in the brake cables, according to the country’s top qualityregulator. The recall involves 1,760 imported cars manufactured from Oct 4, 2016 to Aug 24, 2017, and was filed with the General Administration of Quality Supervision, Inspection and Quarantine by Hyundai Motor (China). The carmaker said the faulty brake cables may cause less effective brake pedals and cars to slide on slopes. The recalled cars will have the problem solved by adjustments to the brake cables, while unsold cars will also be fixed. Kia Niro, the brand’s first hybrid sports utility vehicle, has seen lackluster sales in the Chinese auto market, with only 170 models sold in October, down 9 percent from a month ago, according to auto.sina.com. launched on Monday at the UN Headquarters in New York. The growth in 2017 is the strongest performance of the world economy since 2011. Global growth is expected to remain steady at 3 percent in 2018 and 2019, said the UN World Economic Situation and Prospects 2018 report. The improvement is widespread, with roughly two-thirds of countries worldwide experiencing stronger growth in 2017 than in the previous year. The recent pickup in global growth stems predominantly from firmer growth in several developed economies, although East and South Asia remain the world’s most dynamic regions.