Briefly

Jan-July sales of Hongqi zoom

Hongqi, a car brand under China's leading automaker FAW Group Co Ltd, recorded over 170,600 vehicle sales between January and July, up 95 percent year-on-year. FAW Group attributed its soaring sales to the diversified consumption options of Hongqi-branded vehicles. The group plans to double its 2020 sales of Hongqi vehicles to 400,000 units this year.

PBOC conducts 10b yuan of reverse repos

The People's Bank of China, the central bank, on Monday conducted 10 billion yuan ($1.55 billion) worth of seven-day, 2.2 percent reverse repos to maintain reasonably ample liquidity in the banking system. With 10 billion yuan of reverse repos maturing on the same day, the move led to zero liquidity injection into the market.

Xinhua - China Daily