Briefly

Central bank in 50b yuan of reverse repos

China's central bank on Friday injected 50 billion yuan ($7.8 billion) into the financial system via reverse repos. The interest rate for the seven-day reverse repos was set at 2.2 percent, according to the People's Bank of China. The move aims to keep the liquidity in the banking system reasonably stable, the central bank said.

CRRC makes metro cars for Portugal

CRRC Tangshan Co Ltd, one of China's major high-speed train manufacturers, said it has started producing metro cars for a subway project of Porto, Portugal. According to the deal signed in January 2020, the company in Tangshan, North China's Hebei province, will produce 18 subway trains, with 72 carriages in total, for a local metro company in Porto and provide a five-year maintenance service. With a maximum passenger capacity of 346 people on each train and a maximum speed of 80 km per hour, the subway trains feature lightweight design, low energy consumption, low noise and intelligent operation, according to the manufacturer.

SAIC-GM-Wuling rolls out 25 millionth car

SAIC-GM-Wuling (SGMW), a major Chinese automobile manufacturer, has rolled 25 million vehicles off its production line as of Thursday, the company said. The 25 millionth car produced by the company was a Wuling Asta SUV model. As of Wednesday, the company has sold more than 19.5 million vehicles under the Wuling brand since 1985. Sales of Baojun, the company's passenger car subbrand, have reached nearly 5 million units since the sub-brand was launched in 2010.

Xinhua