The Chinese currency Renminbi, or yuan, strengthened 26 basis points to 6.3002 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trading System.[Company Registration in USA]

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day. [Company Formation | Offshore Company | Company Incorporation]