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Industry news
RMB falls on five consecutive days against USD hitting lowest point for 5 months financial market
Date: 2014-12-25 09:44:30    Published by: PENGLAI INDUSTRIAL CORPORATION

The Chinese yuan weakened against the US dollar in the Asian session on Tuesday.


Against the greenback, the yuan fell to a 2-day low of 6.2278. At yesterday's close, the yuan was trading at 6.2217 against the greenback.
If the yuan extends its downtrend, it is likely to find support around the 6.26 area.
The People Bank of China set today's central parity rate for yuan at 6.1230 per dollar, compared to Monday's reference rate of 6.1220. The central bank sets the reference rate every morning and allows the currency to move upto 2% from that level.

China board of custom reports 8 4% increase in exports oct 2014 海关总署:10月份我国进出口增8 4% 延续上月增长态势

External sector improves markedly in October
In October, exports rose 5.6% over the same month last year, which contrasted the 0.3% drop seen in September and overshot market analysts' expectations of a 1.7% increase. According to analysts, the healthy expansion seen in October suggests a mild turnaround in global demand.

Imports expanded 7.6% in October, which marks an acceleration over the 7.4% rise tallied in September. The increase came in above market expectations of a 7.4% increase.

The trade balance recorded a surplus of USD 31.1 billion, which was virtually unchanged from the USD 32.1 billion surplus recorded in in the same month last year. The October balance overshot market expectations of a USD 24.8 billion surplus. The 12-month moving sum of the trade surplus, however, fell slightly, from USD 254 billion in September to USD 253 billion in October.

FocusEconomics Consensus Forecast panelists project that merchandise exports will grow 8.5% in 2013 (USD 2.2 trillion), while the trade surplus will widen to USD 263 billion, which is up from USD 231 billion in 2012. For 2014, the panel expects exports to increase 8.4% and the trade surplus to remain broadly stable at USD 268 billion.

Chinese Jobs:The top 20 best cities in China for earning money shanghai outraces beijing

A list ranking the top 20 cities in China where it's considered "most easy" to make money has been released, with Beijing and Shanghai occupying the top two spots.
Compiled by the Research Department of China Investment Network, a Beijing-based magazine, the list is calculated according to the average salaries earned by people working in listed companies in 2013. China’s capital Beijing ranks first, with an average annual income of around 170 thousand RMB, followed by Shanghai with residents making an average of around 150 thousand RMB per year.
Residents in Kunming, which ranks 10th on the list, seemed to disagree with the data-sourcing methods used. An auditing accountant in Kunming surnamed Chan said in a Xinhua report the list wasn't precise or representative.

“Different positions in a listed company have different salaries. If it is calculated by putting salaries of all ranks together, the data will be rough and not quite referential,” he said.
People working in small local firms in Kunming only earn around 4,000 RMB each month, according to the same report. Even after adding up bonus payments, it's still far from an annual pay of 100 thousands RMB.
In 2013, the top three industries with the highest employment rate included financial services, construction and mining. The 5.8 million employees in these three industries made up 35.76% of the total number of employees in listed companies.

The top 20 best cities in China for earning money shanghai outraces beijing,for more information about china world news visit site at as well as business website at