Briefly

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 1 pip to 7.1934 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 dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Nonfinancial ODI up in first 10 months

China's nonfinancial outbound direct investment increased 10.6 percent year-on-year to $115.83 billion in the first 10 months of the year, data from the Ministry of Commerce showed on Thursday.

Power use up 7.6% in January-October

China's electricity consumption, a key barometer of economic activity, rose by 7.6 percent year-onyear in the first 10 months, official data showed. In October alone, power usage climbed 4.3 percent from one year earlier, according to data released by the National Energy Administration. During the period, power consumption of China's primary industries increased by 6.7 percent year-on-year, while power consumption of its secondary and tertiary sectors rose by 5.6 percent and 11 percent, respectively.

Xinhua - China Daily