According to the China Foreign Exchange Trade System, the renminbi or yuan’s central parity rate fell 444 pips to 6.7095 versus the US dollar on Thursday.
According to Xinhua News Agency, the yuan is permitted to climb or fall by 2% from the central parity rate in China’s spot foreign currency market each trading day.
According to the news agency, the yuan’s central parity rate versus the US dollar is determined by a weighted average of prices given by market makers prior to the start of the interbank market each business day.
According to a research, as the COVID-19 returns to the country, the Chinese economy faces the dual issues of a declining employment market and an aging population.
According to the Xinhua news agency, he emphasized measures to stabilize market entity growth and shore up employment and people’s fundamental lives, which are supported by stable growth.
According to The Hong Kong Post, a survey conducted by the China Institute for Employment Research (CIER) at Renmin University of China and job search website Zhaopin found that the number of jobs available per applicant among fresh university graduates in China fell to 0.88 in the fourth quarter of 2021.
The number of employment in China fell from 12.79 million in 2019 to 12.07 million in 2020. According to the Chinese National Bureau of Statistics (NBS), the urban unemployment rate in 2021 might reach 14.3% for persons aged 16 to 24.