Briefly

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 27 pips to 7.1318 against the US dollar on Tuesday, said 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 greenback is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Bank increases loans to foreign trade sector

Export-Import Bank of China (China EximBank) beefed up credit support for the development of the country's foreign trade sector in the first half, with loans provided up 13.27 percent year-on-year to over 1 trillion yuan ($140.22 billion) during the period. The policy bank contributed to consolidating the foundation of foreign trade and the cultivation of new drivers for foreign trade by upping credit support for the expansion of trade in intermediate goods, trade in services and digital trade, as well as promoting the export of three major tech-intensive and green products, dubbed the "new three".

Xinhua - China Daily