Briefly

Renminbi strengthens last week: CFETS

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, gained 0.07 points to 99.09 on Monday, according to the CFETS. The index compares the yuan with the value of 24 currencies, including the US dollar, euro and Japanese yen. Last week also saw an index that measures the yuan against the Bank for International Settlements currency basket up 0.1 points to 103.03.

Expressways to help regional integration

East China's Anhui province is perfecting its expressways in an effort to hasten integration into the Yangtze River delta region, of which it is a part. The province asked State-owned China Tiesiju Civil Engineering Group to help renovate its Fengyang-to-Bengbu section of the existing G329 Expressway, with modern cable bridges, culverts, crossing overpasses and toll stations, in a bid to link faster with its neighbor province of Jiangsu. The project will be completed within 1,080 days, according to CTCE First Engineering.

Central bank injects liquidity into market

China's central bank on Monday conducted 100 billion yuan ($15.5 billion) of reverse repos to maintain liquidity in the banking system. The interest rate for the 14-day reverse repos was set at 2.35 percent, according to the People's Bank of China.

Xinhua - China Daily