Briefly

Enterprise investment in innovation rising

Data released by the State Taxation Administration showed that Chinese enterprises have steadily increased their investment in innovation, while the development of new quality productive forces accelerated in the first three quarters of 2025. The latest value-added tax invoice data showed that sales revenue for intellectual property-intensive industries grew by 11.5 percent year-on-year in the first three quarters. During the period, sales revenue for the high-tech industry and equipment manufacturing industry rose by 15.2 percent and 9 percent year-on-year, respectively, according to the data.

Yuan strengthens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 43 pips to 7.093 against the US dollar on Tuesday, 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 US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Xinhua - China Daily