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BEIJING, Oct. 15 (Xinhua) -- The value of yuan, China's currency Renminbi, strengthened for a third consecutive day against U.S. dollar Friday as the central parity rate of the yuan was set at 6.6497 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Friday's central parity rate beat the previous record of 6.6582 on Oct. 14.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Friday's central parity, the Chinese currency has strengthened against the U.S. dollar by about 2.65 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 9.3259 Friday, higher from 9.3491 on Oct. 14, the previous trading day.The yuan's rate against 100 yen was 8.1531 Friday, compared with 8.1611on Thursday.The yuan's rate against the British pound was 10.6305, compared with 10.6192 on the previous trading day.The central parity of RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.The central parity of RMB against the other five currencies is based on the central rate of RMB against the U.S. dollar of the same business day as well as the exchange rates of the five currencies against the U.S. dollar at 9 a.m. (0100 GMT) of the same business day in the international foreign exchange market.

KUNMING, Oct. 8 (Xinhua) -- The building of a railway between southwest China's Yunnan Province and Laos will kick off on Oct. 28, according to its Chinese contractor.The 530-km railway, expected to be completed in 2015, will link Mohan port in Dai Autonomous Prefecture of Xishuangbanna and Vientiane, the capital of Laos, said Li Zhanqun, board chairman of the Yunnan Xiaoxiang Pan-Asia Investment Co., Ltd."We would like to use more workers from Laos to help boost the employment market along the railway," Li said.The railway is part of the Trans-Asian railway network, which will cover 114,000 km and travel through 28 countries throughout the region.In 2009, China ratified an agreement on the Trans-Asian Railway Network, which was initiated by the UN Economic and Social Commission for Asia and the Pacific (ESCAP).The agreement came into effect in June 2009.

BEIJING, Aug. 31 (Xinhua) -- China's banking regulator will strictly implement the central government's macroeconomic policies that aim to curb soaring housing prices, an official said Tuesday.Ye Yanfei, deputy head of the Statistics Department of the China Banking Regulatory Commission (CBRC), said the CBRC will restrain speculative property investment and support the building of affordable housing while controlling risk.China's housing market and lending to the property sector are crucial to the national economy and people's livelihood, as well as to the stable and steady development of the nation's banking sector, Ye said at a seminar in Beijing.Ye's remarks come after the banking regulator said it would further "instruct and monitor" commercial banks' efforts to strengthen the management of lending to home-buyers.Ye's comments echo those of Zhang Ping, director of the National Development and Reform Commission, who said last Thursday in a report to China's top legislature the government will "further implement the measures meant to curb excessive gains in housing prices and resolutely restrain speculative property investment in the second half the year."Ye also said the CBRC has pushed lenders to test the impact of falling house prices, although the regulator said earlier that hypothetical scenarios examined in stress tests do not herald any change in policyHousing prices in major Chinese cities rose 10.3 percent year on year in July, slower than the 11.4 percent growth rate in June, according to official figures.On a monthly basis, housing prices in June fell 0.1 percent from May and July prices were unchanged from June.

BEIJING, Sept. 26 (Xinhua) -- Senior Chinese leaders have called for harsh punishments and effective precautions to be taken against public officials' dereliction of duty.Both punishment and precautionary measures were important in promoting social harmony and stability, and should be paid equal attention, they stressed.Wu Bangguo, He Guoqiang and Zhou Yongkang, who are members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks during their visit on Sunday to an exhibition on China's procuratorates' work to fight against crimes of malfeasance and rights infringement.The fight against such crimes was also part of the country's anti-corruption campaign, they said.The leaders also called on government officials and Party cadres to take the lead in upholding China's Constitution and laws and make further efforts to improve their awareness of the rule of law.When dealing with cases of officials' negligent conduct, procuratorial agencies should diligently practice their duty of supervision and strictly enforce the laws for the interest of the people, the leaders said.

来源：资阳报