Briefly

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 62 pips to 7.146 against the US dollar on Tuesday, 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.

China's power use up 5.4% in June

China's electricity consumption, a key barometer of economic activity, saw steady expansion in June, official data showed. Power use rose 5.4 percent year-on-year in June to 867 billion kilowatt-hours, according to the National Energy Administration. In June, power consumed by the primary and secondary industries rose 4.9 percent and 3.2 percent year-on-year to 13.3 billion kilowatt-hours and 548.8 billion kilowatt-hours, respectively.

Xinhua - China Daily