The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 30 pips to 6.8401 against the U.S. dollar Thursday, 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 6.8401 against USD Thursday
Chinese President Xi Jinping held a welcome ceremony on Thursday morning outside the Great Hall of the People in central Beijing for U.S. President Donald Trump, who is on a state visit to China.
Accompanied by Xi, Trump reviewed the Guard of Honor of the Chinese People's Liberation Army and watched a march-past.
The visiting U.S. president was also greeted by a military band and children waving flags and chanting "warm welcome!"
At the invitation of Xi, Trump is on a state visit to China from Wednesday to Friday. This is the first U.S. presidential visit to China in almost nine years, after President Xi previously hosted Trump in Beijing in November 2017.
Xi, Trump greeted by Chinese Honor Guard, children waving flags at welcome ceremony
