yuan

China's central bank, the People's Bank of China, set a firmer daily reference rate for the yuan against the US dollar, a move being read as a signal of support for the currency. The tighter fixing is drawing attention from currency traders and market watchers assessing Beijing's stance on the yuan's value.

China's central bank is expected to fix the USD/CNY daily reference rate at 6.7085, according to a Reuters estimate. The PBOC sets the yuan's midpoint each trading day, and traders watch the fix closely for signals on official policy toward the currency and the wider economy. The expected level is being picked up by forex market observers ahead of the announcement.

China's central bank set the yuan's daily reference rate at 6.7399 to the US dollar, a firmer fixing than the previous day's 6.7489. The daily fix from the People's Bank of China guides onshore trading and is closely watched by currency traders for signals on official policy toward the yuan.

The Chinese-flagged Luqing Yuanyu 108 is reported to have collided with a cargo vessel near Singapore. The identity of the other ship, the timing and the exact location have not been independently confirmed, and it is not yet known whether anyone was injured. The Strait of Singapore is one of the world's busiest shipping lanes, so any collision there draws immediate attention from maritime authorities and the shipping industry.

The wives of China's leader Xi Jinping and US President Donald Trump have, according to a South China Morning Post report, carved out a side channel in US-China diplomacy through their own contacts and public appearances. Spousal diplomacy is being discussed as a soft-power complement to formal talks between Washington and Beijing, adding a personal dimension to an otherwise tense bilateral relationship.

A life-size replica of the Yuan dynasty Buddha of Medicine mural is now on display at the National Arts and Crafts Museum in Beijing. The original mural, a celebrated example of Yuan dynasty Buddhist art, depicts the Medicine Buddha surrounded by attendant figures. The exhibition gives visitors the chance to see the work at full scale, drawing attention to the preservation and study of ancient Chinese religious murals.

Zhongtian Hechuang has opened a tender for an electrolysis hydrogen production testing and evaluation center at its Wushenqi wind and solar power hydrogen production project in Inner Mongolia, with an investment of 65.13 million yuan. The project is part of China's expanding green hydrogen build-out, converting renewable power into hydrogen at scale. Industry watchers are tracking progress as a sign of momentum in the country's hydrogen sector.