Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 48 pips to 7.2085 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 US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Better services to aid exporters

The State Grid is applying innovative ways to aid exporters. Liancheng Cultural Supplies Co, or LC-stationery, which is based in Xuzhou, East China's Jiangsu province, can produce 300 million pencils and 15 million sets of stationery each year, with an annual output value of 80 million yuan ($11.2 million). As 70 percent of its products are exported to more than 20 countries and regions including the United Kingdom, France, Germany and Italy, it has introduced advanced intelligent equipment, raising production efficiency by 15 percent. The State Grid Xuzhou Power Supply Co has sent staff members to the work site to offer full-chain services, ensuring safe and reliable electricity for the company's equipment.

Xinhua - China Daily