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BEIJING, July 22 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), weakened to 6.7859 per U.S. dollar Thursday from 6.7802 per U.S. dollar Wednesday, according to the data released by the China Foreign Exchange Trading System.China's central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.

BEIJING, July 16 (Xinhua) -- Senior Chinese leader Li Changchun, Friday urged the Chinese automobile industry to enhance indigenous technology and foster domestic brands while visiting an auto technology show here.At the China Achievements Expo for Self-innovated Auto Technology and Products, Li Changchun said boosting innovative capacity was pivotal to economic restructuring and shifting the economic growth pattern.Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said respect for innovation and talent should be the norm.The auto show, which runs from Thursday to Monday, features more than 140 cars from 16 Chinese companies. It is the first auto show ever to feature Chinese home-made and home designed vehicles only.A fifth of the vehicles on display are either energy efficient cars or cars fueled by new energies.The auto show is co-organized by China-Europe Association for Technical and Economic Cooperation (CEATEC) and the China Automobile Dealers Association.

BEIJING, June 9 (Xinhua) -- Chinese President Hu Jintao left Beijing on Wednesday for the 10th annual summit of the Shanghai Cooperation Organization (SCO) scheduled for June 10-11 in the Uzbek capital of Tashkent.Hu will also pay state visits to Uzbekistan and Kazakhstan as guest of Uzbek President Islam Karimov and Kazakh President Nursultan Nazarbayev respectively.Established in 2001, the regional body SCO now groups China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

BEIJING, Aug. 22 (Xinhua) -- Wuhan Iron and Steel Company Ltd., the listed subsidiary of China's third largest steel maker, said Sunday that its net profit rose 90.43 percent year on year to 963.53 million yuan (141.7 million U.S. dollars) during the first half of the year as strong economic growth boosted steel demand and prices.The company's first-half-year sales reached 34.36 billion yuan, up 50.72 percent from one year earlier, it said in a statement delivered to the Shanghai Stock Exchange.However, costs also climbed in the first six months compared with a year earlier because of increases in raw material prices, it said.Production costs for steel products gained 47.12 percent year on year to 31.18 billion yuan. Further, the company's steel output in the first half of the year gained 29.75 percent year on year to 8.04 million tonnes.China's producer price index, a major gauge of inflation at the wholesale level, rose 6 percent in the January-June period, according to statistics released by the National Bureau of Statistics.However, the company was likely to face a "difficult time" in the second half of 2010 and meeting its full-year profit target would become a "challenging task" as demand from auto, home appliance and real estate sectors experienced "drastic changes" since July, leading to more restrained sales and falling prices, it said.Company officials also worried that high prices of iron ore, coal and electricity would further push up production costs and squeeze profit margins.On Friday, the price of its shares fell 2.87 percent to 4.73 yuan on the Shanghai bourse.

SHANGHAI, June 24 (Xinhua) -- Chinese Vice Premier Li Keqiang called for more efforts to accelerate China's urbanization Thursday, as part of the government's efforts to promote economic restructuring and expand domestic demand during this process.Li made the remarks at a training course in Shanghai, saying China's urbanization, which still has much room for expansion, is China's largest source of domestic demand as well as the largest potential driver for development.Further, urbanization would bolster domestic demand, improve people's livelihoods and solve rural problems, Li said.Li noted that China would coordinate development among cities and towns, and step up development of cities in China's central and western regions, while prioritizing development in eastern cities.Chinese Vice Premier Li Keqiang (6th L, front) poses for a group photo with the participants of a training course on urbanization, in Shanghai, east China, June 24, 2010. Li demanded more efforts to solve issues for rural workers including settlement, education for children, housing and social security during the urbanization process.To steadily push forward urbanization in China is an urgent job at present and also a long-term task, Li added.The government said in March that China's rapid urbanization would continue for 15 to 20 years and China would become an urban society in five to six years, with the urbanization rate reaching or exceeding 50 percent.

来源：资阳报