Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 14 pips to 7.2096 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.

Bank issues bonds to support foreign trade

The Export-Import Bank of China (China EximBank) said it has issued two themed financial bonds totaling 12 billion yuan ($1.66 billion) in the interbank bond market. The bonds, issued last Thursday and Friday, aim to facilitate the quality and efficiency improvements of China's foreign trade and support connectivity in foreign trade-related infrastructure, according to the bank. Issued in one-year and 10-year maturities, the bonds attracted broad participation from domestic and international institutional investors, said the bank, noting that funds raised will specifically target foreign trade credit loans.

Xinhua - China Daily