(Yicai Global) Jan. 9 -- The Chinese yuan continues to appreciate against the US dollar, rising to its new strongest point since early August as the prospect of better and more certain trade relations between the two countries spurs investors to scoop up redbacks by the armload.

Chinese Vice Premier Liu He will visit Washington from Jan. 13 to 15 to sign the phase one trade deal with the US, Chinese Commerce Ministry spokesperson Gao Feng announced today..

The yuan traded as robustly as 6.9129 intraday today on the offshore market, the strongest for the Chinese currency since Aug. 2.

The yuan onshore spot rate stiffened 0.2836 percent to 6.9261 from yesterday's closing price at 3.40 p.m. The offshore rate was 6.9197, 0.1990 percent tauter than yesterday's close in New York.

The People's Bank of China fixed the currency's central parity rate at 6.9497 this morning. Spot rates may swing 2 percent above or below its figure.

Editor: Ben Armour