Briefly

PBOC injects $1.5b via reverse repos

The People's Bank of China, the central bank, on Monday injected 10 billion yuan ($1.5 billion) funds via reverse repos to maintain reasonably ample 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. 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.

Good cereals, oil foods list released

China's grain reserve authority has released a list of 236 good cereals and oil foods, including rice, flour, oil and beans, based on standards like planting, quality, branding, marketing, management and economic benefits. This is the fourth year that the list is being brought out and is an attempt to boost grain output and farmers' income. "The good cereal and oil food of China" has applied for a trademark, with an eye on improving the industrial, value and supply chains of grains.

Tencent arm sets up Bahrain data center

Tencent Cloud, the cloud computing business of internet giant Tencent, said on Monday that it is launching a new internet data center in Bahrain by the end of this year, marking its debut in the Middle East and North Africa region. The move is part of a broader memorandum of understanding signed between the Chinese company and the Bahrain Economic Development Board, Tencent said.

Nation's integrated circuit sales rise

China's integrated circuit sales are estimated to reach 884.8 billion yuan ($136.54 billion) in 2020, up 20 percent year-on-year, said Tian Yulong, chief engineer with the Ministry of Industry and Information Technology on Monday. There are about 265,000 chip-related enterprises in China, according to the database query platform Tianyancha.

China Daily - Xinhua