Briefly

Public offering fund value increases

Assets under the management of China's public offering funds totaled 30.78 trillion yuan ($4.33 trillion) by the end of April, up from 29.2 trillion yuan at the end of March, data from the Asset Management Association of China showed. By the end of April, a total of 11,868 public offering funds were being operated by 148 fund management companies, the association said. The scale of closed-end funds topped 3.82 trillion yuan, while that of open-end funds was about 26.95 trillion yuan, the data showed.

PBOC adds liquidity via reverse repos

China's central bank conducted 2 billion yuan ($281.29 million) of seven-day reverse repos at an interest rate of 1.8 percent on Friday. The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said in a statement. 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.

Xinhua - China Daily