Briefly

700+ projects signed at manufacturing event

As the four-day 2024 World Manufacturing Convention came to a close on Monday in Hefei, capital of Anhui, global partners vowed to invest some 350 billion yuan ($49.5 billion) into the province. Showcasing the best of global manufacturing know-how and cutting-edge technologies, at least 700 cooperative projects were signed during the event, empowering the province's manufacturing capabilities. Since its inception in 2018, over 3,600 manufacturing projects have been signed during the past six editions of the annual event, with actual investment surpassing 1.5 trillion yuan.

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi strengthened 113 pips to 7.0531 against the US dollar on Monday, 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.

Xinhua - China Daily