Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 17 pips to 7.1886 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.

Service consumption season launched

This year's national service consumption season was launched on Tuesday in Nanjing, capital city of East China's Jiangsu province, marking a major initiative to boost growth in the service sector. The campaign brings together government departments, industry associations and leading companies to jointly hold more than 160 key events, so as to innovate consumption scenarios and unlock consumer potential.

Xinhua - China Daily