Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 26 pips to 7.2092 against the US dollar on Thursday, said 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 greenback is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Digitalized power grid bolstered

The State Grid is applying more new technologies in building its digital power grid nationwide, ensuring stable power supplies. In Jiangsu province, power staff members have installed intelligent fault alarm devices, using the internet of things and artificial intelligence tech to monitor transmission lines' operating status in real time. State Grid Xuzhou Power Supply Co said the device installed on the 110-kilovolt Hongmiao Line showcases a new phase of "intelligent perception and rapid response", raising work efficiency by 80 percent over traditional manual inspection. Staff member Cen Zijian said the device, integrating high-precision sensors, BeiDou satellite positioning and 5G communication modules, can reduce power-outage durations by 80 percent.

Xinhua - China Daily