Briefly

CNPC oil, gas output hits record in 2020

China National Petroleum Corp, the country's largest oil and gas producer, said that its oil and gas output grew to a record high of over 200 million metric tons of oil equivalent in 2020. In breakdown, its gas output reached over 100 million TOE last year, surpassing that of crude oil for the first time in history, according to the company. CNPC said it would focus on the development of natural gas for building a clean and low-carbon energy system and protecting the environment.

$3.06b of reverse repos conducted

The People's Bank of China, the central bank, on Monday conducted 20 billion yuan ($3.06 billion) of reverse repos to maintain stable liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the PBOC website. Meanwhile, 160 billion yuan of reverse repos matured on the same day, resulting in a net liquidity withdrawal of 140 billion yuan from the market.

Xinhua