China will never seek hegemony, expansion, sphere of influence, says Xi

BEIJING, April 20 (Xinhua): China will never seek hegemony, expansion, or a sphere of influence no matter how strong it may grow, President Xi Jinping (pic) said Tuesday. Nor will China ever engage in an arms race, Xi added. Xi made the remarks while delivering a keynote speech via video at the opening ceremony of the Boao Forum for Asia Annual Conference 2021. Meanwhile, the central parity rate of the Chinese currency renminbi, or the yuan, strengthened 130 pips to 6.5103 against the US dollar onTuesday (April 20), according to the 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 U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. - Xinhua