The central parity rate of the Chinese currency renminbi, or the yuan, strengthened by 11 basis points to 6.1137 against the U.S. dollar on Friday, according to the China Foreign Exchange Trading System.
The yuan-ruble settlement would help further deepen financial cooperation between China and Russia, said Zhao Lianjie, director of the Bank of China's Russian branch.
An eminent U.S. scholar has called on the International Monetary Fund (IMF) to include renminbi, or the yuan, into the basket of the Special Drawing Rights (SDR) to reflect the importance of the Chinese economy and its currency.
China's yuan strengthened to its strongest level in 14 months against the U.S. dollar on Thursday, however, with further easing policies expected the upside is seen as limited, analysts said.
China's property market diverged further in the first quarter, with a slowdown in new commercial and residential housing sales and an uptick in affordable housing investment and high-end houses.
China's foreign trade volume dipped by six percent year on year in the first quarter to 5.54 trillion yuan (902.3billion U.S. dollars), official data showed on Monday.
Chinese stocks advanced to fresh seven-year highs on Wednesday, and combined daily turnover on the Shanghai and Shenzhen bourses set a new record at 1.55 trillion yuan (about 251 billion U.S. dollars).
A well-known toothpaste brand owned by Procter & Gamble has been fined 6.03 million yuan ($960,000) for its false TV commercial, the biggest amount that China has imposed on false advertising.
China's Finance Minister on Friday denied rumor that the government spent 300 billion yuan (47.9 billion U.S. dollars) on public vehicles, receptions and trips.
China will realize the yuan's full convertibility under the capital account and expand its global reach, Premier Li Keqiang has said.
The threshold of the personal income tax should be raised from 3,500 yuan ($557) to 5,000 yuan or above to offset the rising living cost, a national legislator said.
Chinese consumers spent lavishly on travel, movies and gifts during the lunar New Year holiday.
Tax breaks for small and micro-sized businesses in China amounted 61.2 billion yuan (10 billion U.S. dollars) in 2014, the State Administration of Taxation (SAT) revealed.
A five-storey gray building within the southeast corner of Beijing's Second Ring Road is one of the city's burgeoning "cancer hotels".
A five-storey gray building within the southeast corner of Beijing's Second Ring Road is one of the city's burgeoning "cancer hotels".
The inclusive development in China's Tibet Autonomous Region is the prime keynote of the human rights progress in the remote region, says a Chinese scholar.
A total of 106 official vehicles expropriated by the Chinese central government were auctioned Sunday for a combined 6.6 million yuan (1.06 million U.S. dollars) amid enthusiastic bidding.
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