Sovereign bonds to be issued in Macao

The Macao Special Administrative Region government said that the Ministry of Finance will issue sovereign bonds totaling 6 billion yuan ($836.25 million) in Macao on July 16. A joint announcement made by the MOF and the Macao SAR government noted that the continued issuance of renminbi-denominated sovereign bonds in Macao demonstrates the central government's support for the SAR government in expediting the cultivation of the bond market and other new financial businesses, thereby advancing the appropriate diversification of the economy.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 35 pips to 7.1475 against the US dollar on Friday, 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.

Battling hot weather on railways

To battle the high temperatures sweeping North China recently, Chinese railway operators have taken prompt measures to ensure the on-site safety of railway workers. China Railway Taiyuan Group customized a heatstroke prevention package to help employees stay cool and shun the hottest times of the day as much as possible. Its Datong West Power Supply Section organized a service team to distribute preventive items such as cooling oil to outdoor workers, and purchased watermelons and beverages for staff members stationed on the front line. In addition, it implemented a heatwave early-warning mechanism, reasonably re-scheduling work hours to ensure the safe operation of rail transport.

Xinhua - China Daily