Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 25 pips to 7.1815 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.

Steps to regulate livestream e-biz

Public opinion on regulations for the supervision and administration of livestream e-commerce is being solicited, China's top market regulator announced on Tuesday. The State Administration for Market Regulation said that it has drafted the regulations in collaboration with the Cyberspace Administration of China to enhance livestream e-commerce supervision and administration, safeguard the legitimate rights and interests of consumers and operators, and promote the healthy development of the sector. The regulations require livestream e-commerce platform operators to enhance identity verification and qualification reviews for livestream room operators, livestream marketing services agencies and livestream marketing personnel.

Xinhua - China Daily