What's news

PBOC injects $17.3b via reverse repos

The People's Bank of China, the central bank, injected 120 billion yuan ($17.3 billion) of funds into the market on Monday through reverse repos to maintain liquidity. The PBOC conducted the seven-day reverse repos at an interest rate of 2.55 percent, which was unchanged from the rate for the previous 30 billion-yuan operation on Friday, it said in a statement. The move is aimed at offsetting the impact of such factors as tax payments and government bond issuance and keeping liquidity in the banking system at a reasonable and ample level, according to the statement.

Intelligent vehicles to get new impetus