Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 41 pips to 7.1586 against the US dollar on Monday, 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.

Cultural industry revenue hits record

Chinese enterprises in the cultural sector and related businesses saw their combined revenue hit a record high in 2024, official data showed. The total revenue rose 7.1 percent year-on-year in 2024 to 19.14 trillion yuan ($2.67 trillion), according to the National Bureau of Statistics. NBS data showed that in 2024, nine major sectors of the cultural industry achieved widespread revenue growth. Among them, cultural equipment manufacturing, news and information services, content creation, and creative design services experienced rapid revenue increases, growing by 11.2 percent, 8.6 percent, 8.4 percent and 7.2 percent, respectively, compared to the previous year.

Xinhua - China Daily