Chinese yuan strengthens to 6.8579 against USD Monday

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 95 pips to 6.8579 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.

Qingdao Port launched a new container shipping route to West Africa on Sunday, further expanding the maritime logistics corridor between China and Africa and injecting fresh momentum into bilateral trade as zero-tariff measures for 53 African countries that have diplomatic relations with China are expected to take effect on May 1.

At the Qingdao Qianwan Container Terminal, a container ship carrying Chinese-made goods such as auto parts, tires, and solar panels set sail for key West African ports including Tema and Lagos.

This marks the second container shipping route to Africa that Qingdao Port has opened this year. The service will operate weekly with 13 vessels on rotation.

"Qingdao Port, as a key regular port of call in northern China, now offers direct access to major commercial hubs in West Africa, significantly shortening the logistics time between Shandong and inland regions and West Africa," said Shao Chao, a mechanical team leader of the No. 2 Operating Brigade at Qingdao Qianwan Container Terminal.

Qingdao Port now operates a total of 11 Africa-bound container shipping routes covering the continent's core markets in East, West and North Africa. Together with 32 international freight train services, the port has established a sea-rail intermodal network spanning 23 Belt and Road partner countries.

In the first quarter of 2026, the total export value from Qingdao Port to Africa exceeded 43.56 billion yuan (about 6.38 billion U.S. dollars), up 26.3 percent year on year. Among them, the export growth rates of mechanical and electrical products and high-tech products reached 37.4 percent and 25.7 percent respectively.