Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 80 pips to 7.1108 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.

China a global leader in new energy tech

China has emerged as a global leader in new energy technology and equipment, with its new energy patents accounting for more than 40 percent of the world's total, an official said on Tuesday. Wang Hongzhi, head of the National Energy Administration, the country kept breaking world records in key areas during the 14th Five-Year Plan period (2021-25), including photovoltaic conversion efficiency and the single-unit capacity of offshore wind turbines.

Xinhua - China Daily