Briefly

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 24 pips to 7.1918 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.

Over 100 trusted data matrixes planned

China is aiming to establish more than 100 trusted data matrixes by 2028, forming a set of data matrix solutions and best practices, said the National Data Administration. This target was included in a newly issued action plan for the development of trusted data matrixes (2024-28), according to the NDA.The action plan defines a trusted data matrix as data circulation and utilization infrastructure based on consensus rules which connect multiple stakeholders with the aim of achieving the sharing and common use of data and resources.

Small businesses see tax breaks rise

China's small and micro-sized businesses enjoyed 946.1 billion yuan ($131.4 billion) in tax breaks from January to September, up 6.7 percent year-on-year, official data showed. Such businesses are important in expanding employment, energizing the market, and improving people's livelihoods, said the State Taxation Administration.

Xinhua - China Daily