Yuan strengthens versus currencies

China's yuan strengthened against a basket of currencies last week, according to the China Foreign Exchange Trade System. The CFETS yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies, came in at 96.95 on Feb 5, up 0.45 point from a week earlier. The index compares the yuan with the value of 24 currencies, including the US dollar, euro and Japanese yen.

Bike output surges on overseas orders

China's bicycle manufacturers reported robust output growth in 2020, partly buoyed by booming overseas demand, official data showed. China's output of two-wheeled bikes jumped 24.3 percent year-on-year to 44.37 million units last year, according to the Ministry of Industry and Information Technology. Electric bike production surged to 29.66 million units during the period, up 29.7 percent from a year earlier.

Xinhua