IN BRIEF (Page 13)

PBOC drains 80 billion yuan

China's central bank drained 80 billion yuan ($12.3 billion) from the money markets through 28-day bond repurchase agreements on Tuesday, traders said.

A total of 198 billion yuan in central bank bills and repurchase agreements are due to mature this week. The People's Bank of China (PBOC) injected 67 billion yuan into the banking system last week.

Tai'an and HK sign agreements

Agreements of a total of 25 projects worth $2.38 billion were signed between the Tai'an local government in East China's Shandong province and Hong Kong investors on Monday.

The agreements cover sectors such as advanced manufacturing, modern agriculture, new energy and tourism.

"Tai'an has become a significant investment and tourist destination for Hong Kong," said Yang Luyu, Party secretary of Tai'an city committee.

China Daily - Reuters

(China Daily 05/11/2011 page13)