Briefly

Two airlines to delist ADS from NYSE

State-owned China Eastern Airlines and China Southern Airlines both announced in statements on Friday that they plan to delist their American depositary shares from the New York Stock Exchange. China Eastern said that from a business perspective, the amount of ADS it has on the NYSE has been relatively small, and keeping them listed will require compliance involving regular reporting and obligations under the related law, which involves high costs. China Southern cited similar reasons in its statement.

Adora's 5G ship to redefine marine travel

Adora Cruises, a brand of Chinese cruise ships under CSSC Carnival Cruise Shipping, has partnered with China Telecom to bring 5G connectivity to its first China-built large cruise ship. The cruise ship will be equipped with advanced wireless communication technology, in the form of WiFi and mobile 5G, to provide passengers onboard with the same network experience as on land. "By seizing a first-mover advantage in the cruise industry's 5G market, we hope to set a new standard for digital communication in the marine travel sector," said Chen Ranfeng, managing director of CSSC Carnival Cruise Shipping, a joint venture between China's largest shipbuilding company China State Shipbuilding Corp and the US-based Carnival Corp.

Reverse repos boost liquidity

The People's Bank of China, the country's central bank, on Friday conducted 55 billion yuan ($8.17 billion) of seven-day, 2 percent reverse repos and 77 billion yuan of 14-day, 2.15 percent reverse repos to keep liquidity stable before the upcoming Spring Festival holiday. A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.

Yuan strengthens to 6.7292 against USD

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 388 pips to 6.7292 against the US dollar on Friday, 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.

More Angolan staffers added to CREC4

In celebrating the 40th anniversary of Sino-Angolan diplomatic ties, a staff member of China Railway No 4 Engineering Group Co Ltd said more local employees have been added to CREC4, in order to build Angolan projects. Mai Qianyi, from CREC4 Municipal Engineering Co Ltd, which has built 14 projects there since 2012 under the Belt and Road Initiative, said this will enable Chinese and Angolan constructors to build more projects. Mai has made an award-winning short video on the anniversary celebrations and the changes Chinese enterprises have brought about toward improving the lives of Angolans and bolstering local progress.

Xinhua - China Daily