Briefly

Top 200 brands see 20% growth last year

The total value of China's top 200 brands rose by 20 percent from a year earlier to a record 9.2 trillion yuan ($1.4 trillion) in 2020, according to the latest Hurun Most Valuable China Brands list released on Thursday. Leading baijiu brand Kweichow Moutai topped the list for the third consecutive year and saw its brand value soar 63 percent on a yearly basis to 1.04 trillion yuan in 2020, said the Hurun list. Top business-to-consumer online retail platform Tmall was dislodged by Kweichow Moutai this year, with its value up 53 percent year-on-year to 490 billion yuan in 2020. The brand value of Meituan tripled in 2020 to reach 240 billion yuan, helping the e-commerce brand to jump to the seventh position last year.

Shanxi intensifies new energy development

China's leading coal-producing region of Shanxi has stepped up the development of new energy to reduce its heavy reliance on coal. The total installed power generating capacity in the province reached 103.8 gigawatts by the end of 2020, up 49 percent from the level at the end of 2015, according to State Grid Shanxi Electric Power Co Ltd. Its new energy power generating capacity totaled 32.83 GW, accounting for 31.6 percent of the total installed power generating capacity. The proportion increased by 20.39 percentage points over the 13th Five-Year Plan period (2016-20).

Central bank injects liquidity into market

China's central bank injected liquidity into the banking system through open market operations on Thursday. The People's Bank of China injected 250 billion yuan ($38.64 billion) into the market through seven-day reverse repos at an interest rate of 2.2 percent, according to a statement on its website. With 2 billion yuan of reverse repos maturing on the same day, this led to a net liquidity injection of 248 billion yuan into the market.

Xinhua