Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 47 pips to 7.1102 against the US dollar on Thursday, 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.

Pension fund reaps 5%investment return

China's local pension fund saw a return on investments of 5.52 percent in 2024. The fund, managed by the National Council for Social Security Fund, generated investment income of nearly 105.69 billion yuan ($14.87 billion) last year, according to the NCSSF's annual report. Since December 2016, the local pension fund has generated total investment returns of nearly 412.36 billion yuan, averaging an annual return of 5.06 percent.

Xinhua - China Daily