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Month in Review

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CONCERN has been raised over the value of the US dollar against the yuan on the open swap market.

Statistics from the National Foreign Exchange Swap Centre show that the market price for US$1 is about 8.3 yuan, while the official exchange rate is 5.75.

The high market price will affect China's industrial and agricultural production, increase production costs, reduce economic returns, and push prices up, thus affecting the development of the national economy.

In order to counter the sharp rise of foreign currencies against the yuan, specialists have suggested that Beijing should adopt economic, legal and administrative methods to reinforce macro-control and crack down on profiteering.

DENWAY Investment, the latest mainland enterprise to list in Hongkong, raised about $402 million.

The flotation of the mainland carmaker was a record 659 times over-subscribed.

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