Making headlines

Yuan’s global use data in June

Global transaction service provider SWIFT is set to release data on the shares of yuan-denominated payments in international markets in June on Thursday.

In May, the yuan was ranked No.5 as an international payment currency, after the US dollar, euro, pound and yen, with a market share of 1.88 percent, up from 1.66 percent in April, according to data compiled by news website econotimes.com.

Major companies’ industrial profits

The National Bureau of Statistics (NBS) is set to announce data on major Chinese industrial companies’ profit for June on Friday.

In May, profits of major industrial companies in China – those with annual revenue of more than 20 million yuan ($2.96 million), rose 21.1 percent year-on-year to 607.1 billion yuan, slightly less than a 21.9 percent gain in April.

In the first five months, profits of China’s major industrial companies grew 16.5 percent, quickening from the 15 percent increase for the January-April period, NBS data showed.

The steady growth was due to the country’s ongoing supply-side structural reforms, which led to “falling production costs and lower leverage ratios,” the Xinhua News Agency reported, citing NBS statistician He Ping.

China Cloud Computing Conference

The 10th China Cloud Computing Conference is scheduled to start on Monday in Beijing.

The three-day meeting, with a theme of focusing on cloud ecology and energizing the real economy, will review China’s development on cloud computing over the past decade, share breakthroughs and applications for cloud technology and discuss how the technology could contribute to the country’s real economy, according to an introduction on the event’s official website.

It will also explore how cloud computing could combine with emerging technologies such as artificial intelligence, blockchain and big data.