Briefly

Renminbi strengthens to 6.7079 vs dollar

The central parity rate of the Chinese yuan, or renminbi, strengthened 30 pips to 6.7079 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.

ICBC issues 10b yuan in green bonds

Industrial and Commercial Bank of China, the country's largest commercial lender, has issued 10 billion yuan ($1.5 billion) in green bonds to support the country's pursuit of carbon neutrality. The bonds will raise funds for projects that can effectively reduce carbon emissions, such as wind power projects, the bank said. With a three-year maturity, the bonds were issued in the interbank bond market, and the subscription ratio reached 3 times, ICBC said.

PBOC adds liquidity via reverse repos

The central bank on Thursday conducted 10 billion yuan ($1.49 billion) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People's Bank of China. The move aims to keep liquidity in the banking system reasonably stable.

Xinhua - China Daily