Yuan strengthens to 6.8949 vs greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 426 pips to 6.8949 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.

E-commerce logistics sector grows in Feb

China's e-commerce logistics activities further boomed in February as enterprises and businesses accelerated recovery, industry data showed. The index tracking e-commerce logistics activities reached 107.2 points in the period, up 2.6 points from the previous month, higher than the 1.8-point growth in January, according to a survey jointly conducted by the China Federation of Logistics and Purchasing and e-commerce giant JD.