Yuan strengthens to 6.7138 against dollar

The central parity rate of the yuan strengthened 9 pips to 6.7138 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.

Production base starts operation

French energy technology firm Schneider Electric's largest manufacturing facility for medium-voltage equipment worldwide has begun operations in Xiamen, East China's Fujian province. The first phase of the Schneider Electric Xiamen Xiang'an Industrial Park features a total construction area of about 110,000 square meters, integrating a research and development and technology center, a smart manufacturing hub, and a service training center.

XINHUA-CHINA DAILY