Briefly

Central bank in 10b yuan of reverse repos

China's central bank on Friday conducted 10 billion yuan ($1.55 billion) of 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 the People's Bank of China. 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.

SAIC-GM-Wuling posts strong auto sales

SAIC-GM-Wuling, a major Chinese automobile manufacturer, reported sales of over 1.27 million vehicles in the first nine months of 2021, the company said. SGMW, a joint venture between SAIC Motor, General Motors and Liuzhou Wuling Motors, sold 1,270,148 vehicles during the period, up by 23.3 percent year-on-year. Its major brand of Wuling sold 1,002,703 units in the period, up by 39.5 percent year-on-year, while sales of the company's new-energy vehicles more than tripled during the period, the company said.

Border port logs more freight trains to Europe

Horgos Port in Northwest China's Xinjiang Uygur autonomous region handled 4,748 China-Europe freight trains from January to September, up 34.3 percent year-on-year, according to local railway authorities. The total rail freight volume in Horgos, China's closest port to Central Asia and Europe by land transport, reached 6.8 million tons, up 48.5 percent year-on-year. This included an export freight volume of more than 3.9 million tons, up 32.7 percent year-on-year.

Xinhua - China Daily