Big data helping firms cut power cost

Chinese power operators are using more high-tech to better serve clients in reducing the cost of energy. In Xuzhou, East China's Jiangsu province, the power supplier has used big-data-driven strategies to deliver energy efficiency diagnostics to nearly 40 enterprises, saving them some 170,000 yuan ($23,940) in power-factor-adjustment charges. At Wanjin Textile, the cut reached 5,000 yuan. Aiming to "serve clients in conserving energy and boosting efficiency, and expand public value-added services", staff members from State Grid Xuzhou leveraged their professional expertise and big-data technologies to mine information deeply, building a power-factor curve model and developing a customized, data-visualization tool that helps frontline employees in delivering extended services efficiently.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 45 pips to 7.1063 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.

Xinhua - China Daily