Briefly

Year's 7th bills swap of PBOC worth $770m

The People's Bank of China, the central bank, conducted this year's seventh central bank bills swap, or CBS, operation on Thursday to improve the liquidity of perpetual bonds issued by commercial banks. The seventh CBS, valued at 5 billion yuan ($769.92 million), is open to primary dealers for bidding at a fixed rate of 0.1 percent. It will be due on Oct 29, and allows dealers to swap the perpetual bonds they hold for central bank bills, which will boost market demand for perpetual bonds but have a neutral impact on liquidity.

New Guangxi railway to boost key links

Construction of a new railway line in South China's Guangxi Zhuang autonomous region will begin on Friday. The nearly 120-kilometer-long, five-station line will link regional capital Nanning and neighboring Chongzuo city, and can support top speed of 250 km/hour. To be built by China Tiesiju Civil Engineering Group, the line will help to cut travel time from two hours to just half-an-hour. Upon completion, the line is expected to emerge as part of key infrastructure to boost the Belt and Road Initiative and the new land-sea corridors in western China. It will also link Guangxi with Vietnam and other member states of the Association of Southeast Asian Nations.

Xinhua - China Daily