Briefly

Trade with Kenya hits record high in Q1

Bilateral trade between China and Kenya reached a record high in the first quarter of the year, official data showed, demonstrating the deepening economic ties between the two countries. According to the General Administration of Customs, goods trade between the two countries in the first three months climbed 11.9 percent year-on-year to reach 16.13 billion yuan ($2.24 billion), marking the sixth consecutive quarter of growth. China's exports to Kenya saw a year-on-year increase of 11.8 percent during the period, while imports from Kenya went up by 13.2 percent.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 32 pips to 7.2066 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