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.
The country’s economy faces a shrinking job market as well as an aging population amid the COVID-19-induced slowdown. A recent survey conducted by the China Institute for Employment Research (CIER) at the Renmin University of China and job search website Zhaopin indicates that the number of jobs available per applicant among fresh university graduates in China fell to 0.88 in the fourth quarter of 2021, a Hong Kong daily reported.
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