Briefly

Baidu, CATL forge partnership

China's tech giant Baidu and Contemporary Amperex Technology Co Ltd (CATL), a leading battery maker, recently signed a strategic cooperation agreement, Baidu announced in a statement on Friday. The partnership will focus on two core areas: digital intelligence and autonomous driving, advancing AI applications within the industry and promoting autonomous mobility services. Baidu will leverage its AI capabilities in digital intelligence development to support CATL.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 2 pips to 7.1738 against the US dollar on Friday, 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