Yuan's rise to boost outbound tourism

More Chinese tourists are expected to travel to overseas destinations such as Hong Kong with the appreciation of the yuan against the US dollar, those in the tourism industry have said.

The central parity rate of the yuan breached the psychological mark of 7 against the US dollar earlier this month and stood at 6.98 yesterday.

For Chinese travelers, it means stronger purchasing power in the United States and other countries and regions that use US dollars or peg their currencies to it.