China-US economic, trade consultation mechanism meeting continues in London

The first meeting of the China-U.S. economic and trade consultation mechanism continued in London on Tuesday.

On Monday, Chinese Vice Premier He Lifeng, also a member of the Political Bureau of the Communist Party of China Central Committee, attended the first day of discussions with U.S. representatives.

The mechanism was set up as part of a consensus reached during high-level China-U.S. economic and trade talks held in the Swiss city of Geneva last month.

The meeting in London followed a phone call between the two countries' heads of state last week.

China-US economic, trade consultation mechanism meeting continues in London

China-US economic, trade consultation mechanism meeting continues in London

China-US economic, trade consultation mechanism meeting continues in London

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