Briefly

Shanxi sees Jan-Aug foreign trade jump

North China's Shanxi province saw robust growth in foreign trade in the first eight months of 2021, data from Taiyuan Customs showed. The total import and export value hit 151.1 billion yuan ($23.4 billion) from January to August, up 81.6 percent compared with the same period last year, according to the data. Exports soared to 92.81 billion yuan, logging a 91.9 percent increase over the same period last year, while imports totaled 58.3 billion yuan, up 67.2 percent. The province's private enterprises posted rapid growth in imports and exports during the period, with the figure growing 142.9 percent to 45.92 billion yuan.

Central bank injects liquidity into market

China's central bank on Friday conducted a total of 100 billion yuan ($15.5 billion) of reverse repos to maintain liquidity in the banking system. The amount included 50 billion yuan of seven-day reverse repos at an interest rate of 2.2 percent, and 50 billion yuan of 14-day reverse repos at an interest rate of 2.35 percent, the People's Bank of China said. With 10 billion yuan of reverse repos maturing on the same day, the move resulted in a net liquidity injection of 90 billion yuan into the market. 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.

Battery giant partners with BASF

Contemporary Amperex Technology Co Ltd, China's largest automotive lithium-ion battery maker, announced on Thursday a framework agreement with German chemical giant BASF on battery materials solutions, including cathode active materials (CAM) and battery recycling. Aimed at developing a sustainable battery value chain to support CATL's localization in Europe, the collaboration will support both companies' commitment to global carbon neutrality. Through its partnership with BASF, the largest chemical supplier to the automotive industry, the Chinese battery giant aims to improve its European service capabilities by developing a localized battery recycling network and a secure raw-material supply chain in the region.

Gas-fired plant begins operations

Phase one of the Gas Natural Acu (GNA) gas-fired power plant entered commercial operations on Friday, said its operator State Power Investment Corp. With GNA I, which is located in Brazil, entering commercial operations, SPIC's controllable capacity in Brazil reached 2.21 GW.

Beijing has 45,700 5G base stations

Beijing had 45,700 5G base stations by the end of August, with 5G users totaling over 12 million. Every 10,000 people in Beijing enjoy about 20 5G base stations, ranking first in China, data released by the Beijing Communications Administration showed. The capital city has realized full coverage of the 5G network in key functional areas, including its downtown core areas, sub-center, and Central Business District. The technology applications are in healthcare, education, tourism, and the industrial internet, said Su Shaolin, director of the administration. China has taken a global lead in 5G development, with 819,000 5G base stations built by late May, accounting for over 70 percent of the world's total.

Xinhua - China Daily