China's corporate sales revenue grows 4.3 percent in April

China's corporate sector sales revenue in April rose 4.3 percent year on year, according to the latest value-added tax invoice data from the State Taxation Administration.

The manufacturing sector grew slightly faster at 4.4 percent, with electrical machinery, computer manufacturing and instrument manufacturing all achieving double-digit growth rates. Companies in the high-tech and digital economy industries saw their revenues posting gains of 15.3 percent and 13.4 percent.

The eastern region continued to drive national economic performance, recording 4.8 percent revenue growth overall. Leading innovation hubs including Zhejiang, Guangdong and Beijing significantly outpaced the national average, benefiting from strong demand in artificial intelligence and other advanced technologies.

China's corporate sales revenue grows 4.3 percent in April

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