China Daily

The People's Bank of China set its daily USD/CNY central parity rate at a firmer level, a move analysts read as the central bank tightening its management of the yuan and signalling it is uncomfortable with recent currency weakness. Markets watch the daily fix closely for clues on Beijing's stance, and a stronger setting can lift the renminbi, affect regional currencies, and shift sentiment across Asian equities and commodity trades.

Vladimir Putin said Ukraine's provocations are fuelling tensions, according to a report carried by China Daily's global edition. The accusation comes as the war between Russia and Ukraine continues to drive friction between Moscow and Kyiv and their international partners. No further details about the alleged provocations or responses from Ukraine were included in the available report.

China's central bank is expected to set the US dollar/yuan daily reference rate at 6.7085, according to a Reuters estimate. The daily midpoint fixing from the People's Bank of China is closely watched by currency traders as a signal of official policy toward the renminbi, and any deviation from expectations can move Asian currency and equity markets.

A former vice-minister of education in China is under investigation, according to China Daily. No further details about the official's identity or the suspected wrongdoing have been released. The inquiry adds to a series of corruption probes targeting senior officials, a campaign observers say remains a defining feature of Chinese political life.

China's central bank set the yuan's daily reference rate at 6.7399 to the US dollar, a firmer fixing than the previous day's 6.7489. The daily fix from the People's Bank of China guides onshore trading and is closely watched by currency traders for signals on official policy toward the yuan.