Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 25 pips to 7.1714 against the US dollar on Wednesday, 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.

Chinese mainland shares close higher

Chinese mainland stocks closed higher on Wednesday, with the benchmark Shanghai Composite Index up 0.53 percent to 3341.96 points. The Shenzhen Component Index closed 0.28 percent higher at 10709.46 points. The combined turnover of these two indexes stood at about 1.49 trillion yuan ($207.77 billion), up from 1.48 trillion yuan the previous trading day. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.01 percent to close at 2190.36 points.

Xinhua - China Daily