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Manage   U.S. to impose penalty tariffs on imports from China China Unicom's profit up 28% after it cuts costs Leading Chinese TV maker kicks off production facility in Czech China's leading oilfield projects higher output in 2007 Turnover of China's stock markets sets record Door opens for foreign exporters carve out   Cialis makes concerted drive for mainland market Millions may become tax-filing delinquents China likely to seek foreign partners in developing jumbos Shanghai Pudong airport ranks world's sixth in freight handling volume Calyon sees mainland as future investment Firms bank on secure transactions Industry   Watchdog puts brakes on China's IPO trend China's oil reserves exploitable for 11 years Chinese steel giant Shougang to cut 17,500 jobs China sets to cut export rebates for steel products in April China's leading oilfield projects higher output in 2007 Nanjing Automobile starts production of MG Rover cars

Chinese yuan hits new high against U.S. dollar BEIJING, April 2 (Xinhua) -- The value of the Chinese currency yuan against the U.S. dollar hits a new high on Monday with a central parity rate of 7.7306 yuan to one dollar, according to the Chinese Foreign Exchange Trading System. The yuan, also known as Renminbi (RMB), gained 36 basic points from Friday's reference rate of 7.7342 to the U.S. dollar. The yuan climbed to a central parity rate of 7.7386 yuan to the U.S. dollar, breaking the 7.74 mark on March 8 this year.

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