China's machinery industry posts steady growth in goods trade

The import and export value of the goods trade of China's machinery industry increased by 6.4 percent year over year in the first eight months of this year, according to China Machinery Industry Federation (CMIF) on Saturday.

The industry's trade in goods posted a total import and export value of 762 billion U.S. dollars, said the federation.

Export to the Association of Southeast Asian Nations (ASEAN) nations and Belt and Road partner countries grew by 14 percent and 9.5 percent year over year, respectively, marking remarkable jumps, the released data showed.

By category, the export of the key parts and the whole machine of automobiles, agricultural machinery, and engineering machinery maintained steady growth, data said.

China's machinery industry posts steady growth in goods trade

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.0108 against the U.S. dollar 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.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 7.0108 against USD Monday