China holds concert to celebrate 105th founding anniversary of CPC

A concert was held in Beijing on Monday evening in celebration of the 105th anniversary of the founding of the Communist Party of China (CPC).

Party and state leaders Xi Jinping, Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, Li Xi, and Han Zheng joined about 3,000 people to watch the performance, titled "Putting the People First."

Held at the Great Hall of the People in central Beijing, the concert featured five segments, honoring revolutionary martyrs, recalling military-civilian solidarity during the years of the revolutionary wars, and depicting development during the years of socialist revolution and construction.

Performers also showcased China's transformations since reform and opening-up, and highlighted the country's achievements in the new era.

As the performance drew to a close, the audience rose to chorus the song "Without the Communist Party, There Would Be No New China."

Representatives of foreign experts working in China were also invited to the event.

The Japanese yen weakened to its lowest level against the U.S. dollar in nearly 39 and a half years on Monday, as expectations of further U.S. interest rate hikes continued to weigh on the Japanese currency, local media reported.

The yen briefly fell to the 161.90 range against the U.S. dollar during trading in New York, marking its weakest level since December 1986, public broadcaster NHK reported.

The yen remained under pressure as investors continued to sell the Japanese currency and buy the dollar amid growing expectations that the U.S. Federal Reserve will further raise interest rates, the report said.

Market participants also focused on the prospect of a widening interest rate gap between the United States and Japan, reinforcing demand for the dollar and putting additional downward pressure on the yen.