E-book trade volume to reach $5.34b by 2020
The trade volume of China’s e-book market is expected to reach 33.5 billion yuan ($5.34 billion) by 2020, according to a report in People’s Daily on Tuesday. The market will see average annual growth of 29.8 percent in the next three years, according to the report, jointly released by Chinese online book retailer Dangdang.com and big data analysis service provider Analysys. In 2017, ebooks registered growth of 29.2 percent to reach 15.3 billion yuan, while online sales of printed books rose 34.4 percent year-on-year to 30.1 billion yuan, it added. China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.