RMB KEEPS INCREASING

The Chinese currency Aug.30 strengthened against the U.S. dollar to its highest level in more than a year on the back of a firming economy and weaker U.S. dollar.

The central parity rate of the Chinese currency, the renminbi or the yuan, strengthened to 6.6102 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.Comparing to the lowest point of 6.9526 on Jan.4 , this year the appreciation of the yuan against the dollar has been close to 5%.

China's economy expanded 6.9 percent in the first half, well above the target of around 6.5 percent for the year. So insiders said the yuan's rally was supported by the sound fundamental backdrop of the Chinese economy.

The Chinese yuan will continue its momentum given a slew of positive economic indicators in coming months that will inject fresh impetus to the economy, according to Sheng Songcheng with the central bank.

Analysts expect the yuan to advance more against the U.S. dollar further over the coming months.