Briefly

Mass entrepreneurship, innovation week starts

China will hold this year's national mass entrepreneurship and innovation week from Tuesday to Monday to galvanize broader business development, the National Development and Reform Commission said. Themed "high-quality innovation, high-level entrepreneurship and employment", the annual event will see various activities kick off across the country, both online and offline, to display achievements in mass entrepreneurship and innovation. A total of 144 representative projects selected across the country will be showcased at the main venue of the event in Zhengzhou, Henan province, the NDRC said.

Jan-Aug: Furniture makers sitting pretty

China's furniture sector registered steady growth in the first eight months of the year, data from the Ministry of Industry and Information Technology showed. During the period, the industry's operating revenue increased 21.3 percent year-on-year to 494.04 billion yuan ($76.7 billion), according to the ministry. Combined profits reached 25.83 billion yuan during the period, up 27 percent from a year earlier.

Central bank conducts reverse repos

China's central bank on Monday conducted 10 billion yuan ($1.56 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.

Xinhua - China Daily