Loan prime rates remain unchanged

China's one-year loan prime rate, a market-based benchmark lending rate, came in at 3 percent on Friday, unchanged from the previous month. The over-five-year LPR, on which many lenders base their mortgage rates, also remained unchanged from the previous reading of 3.5 percent, according to the National Interbank Funding Center. These latest developments follow last month's 0.1-percentage-point decline in market-based benchmark lending rates, the first decline this year.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 34 pips to 7.1695 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.

Eliminating railway safety hazards

As June marks the 24th national safe production month in China, the country's railway operators have launched events to further enhance safety. China Railway Taiyuan Group has organized a themed campaign named "Eliminating Safety Hazards and Safeguarding Railway Smoothness", in a bid to raise public awareness of safe travel. For example, employees from Yuci Railway Station used vivid presentations with text and images to educate travelers about railway protection, showcasing safety precautions and ways to protect railway facilities. Such efforts help to create a safe and orderly travel environment for all.

Xinhua - China Daily