Briefly
Yuan weakens against greenback
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 30 pips to 7.1782 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.
Major oilfield found in South China Sea
The China National Offshore Oil Corp announced on Monday that it has discovered a major oilfield in the South China Sea, with proven reserves exceeding 100 million metric tons. The newly discovered Huizhou 19-6 oilfield marks a breakthrough in China's offshore oil exploration, as it is the country's first large-scale integrated clastic oilfield discovered in deep to ultra-deep layers, CNOOC said.
Xinhua - China Daily
Today's Top News
- 'China shopping' boom spurred by favorable policies helps drive growth: China Daily editorial
- New tariff threat to ensure the chips fall to US: China Daily editorial
- China completes first landing, takeoff test of manned lunar lander
- China's new free preschool policy to save families $2.8 billion
- China's foreign trade rises 3.5% in first seven months
- China's foreign trade up 3.5% in first seven months
