Power protection working groups

Chinese power workers are strengthening the safety and stability of the power grid so as to safeguard social and economic lifelines. In the prefecture-level city of Xuzhou in East China's Jiangsu province, power protection working groups have been established by employees to conduct routine inspections of distribution lines and transformers, while also meticulously checking each piece of electrical equipment and power lines to ensure that any potential hidden dangers can be eliminated in a timely manner. For example, to support a sporting event at the local Olympic sports center, employees from State Grid Xuzhou Power Supply Co worked near key equipment to monitor its operation, ensuring quick response times if needed.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 43 pips to 7.1746 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.