Briefly

Renminbi strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 308 pips to 7.0202 against the US dollar on Wednesday, said the China Foreign Exchange Trade System.

China expands AMC investment program

The National Financial Regulatory Administration has announced the expansion of the pilot program for equity investments by financial asset management companies. According to a circular issued by the administration, the pilot program will now extend beyond Shanghai to include 17 other cities, including Beijing, Tianjin and Chongqing. Since 2020, financial AMCs established by major commercial banks have been conducting equity investment pilot programs in Shanghai. The circular introduces adjustments to the policies governing the Shanghai pilot program.

Xinhua - China Daily