Jump in net income for CPIC

China Pacific Insurance (Group) Co Ltd, one of the country's largest insurers, saw an 11 percent year-on-year increase in net income attributable to its parent company to 27.9 billion yuan ($3.91 billion) in the first half of 2025, according to its interim report released late Thursday. The group's operating profit attributable to its parent company also increased by 7.1 percent year-on-year to 19.9 billion yuan.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 33 pips to 7.1030 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.