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Manage   World's top fur supplier hooks up with Chinese designers Dongfeng in talks with Volvo to make trucks Chinese bank cards accepted by 24 countries and regions Investment quotas for QFIIs expected to be increased China's courts see rise in IPR violation cases after WTO entry China announces 20 pct cut in airline fuel surcharge Resources   China to reduce tax gaps between companies China posts double-digit growth in returns for telecom services Banks, automakers boost mainland's stocks China to commercialize policy banks Top bank: minimum bank balance violates regulations Customers unhappy about levels of service Industry   Mainland's stock index slides from a record 35 mln color TV sets sold in China in 2006 China projects slower growth in foreign trade China becomes world's largest stainless steel producer Chinese apathetic about environmental protection Seven banks keen to set up subsidiaries in rural areas

RMB hits new high against USD for 7th time since New Year SHANGHAI, Jan. 24 (Xinhua) -- The value of Renminbi (RMB) yuan against U.S. dollar hit a new high on Wednesday with a central parity rate of 7.7755 yuan to one dollar, according to the Chinese Foreign Exchange Trade System. It was the seventh time for the RMB value to hit a new high since Jan. 1 this year. The value has risen 4.3 percent against U.S. dollar since China's reform of the exchange rate system on July 21, 2005. The RMB value rose to 7.7758 last Thursday after rising for four days in a row. China started the reform of the exchange rate system in 2005 to allow the yuan to float against the U.S. dollar within a daily 0.3percent band from the official central parity rate.

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