Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 2 pips to 7.1496 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. 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.

Shipping route boosts China-Peru trade

In the first half of 2025, cargo volume on the Chancay-Shanghai shipping route reached 78,000 metric tons, worth 1.72 billion yuan ($240.76 million), according to Shanghai Customs. After this route was set up, the total value of imports and exports between Shanghai and Peru increased by 34.9 percent compared with the same period last year. Since the launch of the Chancay-Shanghai shipping route in December 2024, the shipping time between Peru and China has been reduced to around 23 days, significantly cutting logistics costs by over 20 percent. As a result, more and more fresh fruits such as avocados, mangoes, and blueberries are being directly transported from Peru to China via this route.

Chinese mainland shares close lower

Chinese mainland stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 0.37 percent to 3559.95 points. The Shenzhen Component Index closed 0.17 percent lower at 10991.32 points.

Xinhua - China Daily